ADNOC, Petronas, Storegga to collaborate on carbon capture

Malaysia

KUALA LUMPUR, August 20, 2024 – The UAE’s ADNOC, Malaysia’s Petronas and the UK’s Storegga will collaborate on a carbon capture and storage project offshore Malaysia, the companies announced on Tuesday.

Under the agreement, the partners will evaluate the CO2 storage capabilities of Malaysia’s abundant saline aquifers, with a view to the construction of CCS facilities in the Penyu basin.

The project aims to build a minimum of 5 million tonnes per year of CO2 capture and storage capacity by 2030.

Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including AI, to enhance storage capacity.

ADNOC targets 10 million tonnes per year in carbon capture capacity by 2030 as it pursues net-zero emissions by 2045.

London-headquartered carbon capture player Storegga focuses on leveraging experience from the offshore oil and gas sector to screen, identify and develop geological storage for industrial CO2 emissions.

CEO Tim Stedman described the collaboration as having the potential to develop a “world-class CCS hub.”

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