PETRONAS, ExxonMobil to jointly develop carbon capture projects

From left: PETRONAS executive vice president and chief executive officer of upstream Datuk Adif Zulkifli, PETRONAS head of carbon management Emry Hisham Yusoff, ExxonMobil Low Carbon Solutions, Asia Pacific, vice president Tracy Lothian, ExxonMobil president Shane Harris and ExxonMobil Low Carbon Solutions, Asia Pacific, president Irtiza Sayyed.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has signed two project development agreements with ExxonMobil Exploration and Production Malaysia Inc (ExxonMobil) to jointly pursue carbon capture and storage (CCS) activation in Malaysia.

Under the agreements, both parties will define the next steps, including maturing technical scopes for the CCS value chain, evaluating the identified fields for carbon dioxide storage utilisation, developing an appropriate commercial framework and establishing an advocacy plan to support regulations and policy development to enable CCS projects.