Petros, PETRONAS, Japanese Consortium Parties sign agreement for CO2 storage feasibility study

The MoU signatories (clockwise from top left): “K” LINE Managing Executive Officer Satoshi Kanamori; Petros Chief Operating Officer Dr. James Foo; Petros Senior Vice President for Sarawak Resource Management Nazrin Banu Shaikh S. Ahmad; Petros Head of Resource Strategy and Governance Anyi Ngau; PETRONAS CCS Ventures Chief Executive Officer Emry Hisham Yusoff; JAPEX Executive Management Officer, President of Overseas Business Div Ⅱ Dr Tomomi Yamada; and JGC Senior Executive Officer & TCO Masahiro Aika.

KUCHING, Feb 29: Petroleum Sarawak Berhad (Petros), PETRONAS, and Japanese Consortium Parties have signed a Storage Site Agreement (SSA) for the M3 depleted field offshore Sarawak to conduct feasibility studies of CO2 storage sites, starting with the M3 CCS Project.

According to a joint statement today by Petros, PETRONAS and the Japanese Consortium Parties, it said PETRONAS is represented by its subsidiary CCS Ventures Sdn Bhd (Petronas CCS Ventures) while the Japanese Consortium Parties is represented by Japan Petroleum Exploration Co, Ltd. (JAPEX), JGC Holdings Corporation (JGC) and Kawasaki Kisen Kaisha, Ltd. (“K” LINE).

The signing ceremony, which was held on Feb 26, was signs by Petros Senior Vice President, Sarawak Resource Management Nazrin Banu Shaikh S. Ahmad; PETRONAS CCS Ventures Chief Executive Officer Emry Hisham Yusoff; JAPEX Managing Executive Officer and President of Overseas Business Division II, Yamada Tomomi; JGC Senior Executive Officer, Technology Commercialization Officer, Aika Masahiro; and ”K”LINE Managing Executive Officer, Carbon-Neutral Promotion, Kanamori Satoshi.

“The SSA also include the planning of relevant CO2 storage site development, including onshore terminals and transportation pipelines, as well as assessment of its techno-commercial feasibility.

“This collaboration represents a significant advancement in the effort to reduce greenhouse gas emissions in the Asia Pacific (APAC) region, including Malaysia and Japan,” it said.

Meanwhile, Nazrin said this step forward signifies their commitment as Sarawak’s economic growth engine leveraging on CCUS as an enabler.

He also said that this is the first project for the industry and the impetus to more low-carbon solution projects.

On the same note, Emry said the collaboration is not just a strategic move to unlock potential CCS opportunities in Sarawak but necessary in addressing climate change as a collective action in achieving a low-carbon future.

“By securely storing captured CO2 underground, CCS plays a pivotal role in decarbonising key industries, and it is hoped that this milestone will set an impetus for other CCS initiatives within Malaysia,” he added. — DayakDaily