PETRONAS, TotalEnergies, Mitsui collaborate on CCS project

From left: Chairman and CEO of TotalEnergies SE, Patrick Pouyanné; PETRONAS President and Group CEO, Tan Sri Tengku Muhammad Taufik; and Representative Director, Senior Executive Managing Officer of Mitsui & Co., Toru Matsui

KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has inked a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co Ltd to jointly pursue a carbon capture and storage (CCS) project in Malaysia.

In a statement, PETRONAS said the scope of the agreement covers all aspects of CCS development from evaluating maturing depleted field and saline aquifers for storage, to identifying potential customers and establishing the necessary commercial and legal frameworks.