Exxon, Petronas Teaming Up For CCS Study In Malaysia
ExxonMobil and Petronas have signed a Memorandum of Understanding (MoU) to jointly explore potential carbon capture and storage technologies projects in Malaysia.
The companies will assess the viability of carbon capture projects in select locations offshore Peninsular Malaysia and share subsurface technical and infrastructure data for pipelines, facilities, and wells as they evaluate potential projects for the storage, transport, and reutilisation of captured CO2.
The most important aim of the MoU is to help Malaysia reduce emissions and achieve its net-zero ambitions.
“ExxonMobil continues to explore opportunities in South-east Asia for large-scale carbon capture and storage projects that have the potential to make the greatest impact in the highest-emitting sectors,” Joe Blommaert, president of ExxonMobil Low Carbon Solutions, said.
“With joint collaboration and well-designed policies, we can use our capabilities to develop projects which progress reliable, safe, and ready-to-deploy technologies at a scale which could significantly reduce emissions throughout Malaysia,” he added.
The MoU with Petronas is the ninth carbon capture and storage opportunity which ExxonMobil has announced since establishing its Low Carbon Solutions business in March 2021 to commercialise low-emission technologies.
The others are in Houston, LaBarge, Edmonton, St Fergus, Fife, Normandy, Indonesia, and Russia. These are in addition to previously announced projects in Qatar, Antwerp, Rotterdam, and Australia. It is worth noting that the Indonesian project was agreed with Petramina just last week.
“This collaboration is an important step to unlock the opportunities and potential of CCS in Malaysia through applied technologies and innovation, potentially helping us reach our net-zero carbon emissions aspirations amidst an evolving energy landscape,” said Adif Zulkifi, Petronas executive VP and CEO of Upstream.
As for Exxon’s Low Carbon Solutions, it is focusing its carbon capture and storage efforts on capturing CO2 from industrial activity which would otherwise be released into the atmosphere and injecting it into deep underground geologic formations for safe, secure, and permanent storage.
It is also pursuing strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonise sectors of the economy.
The company has an equity share in approximately one-fifth of global CO2 capture capacity and has captured approximately 40 percent of all the captured anthropogenic CO2 in the world.
Source: Rigzone