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On Tue, 20 Aug, 4:02 PM UTC
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ADNOC, PETRONAS, Storegga tie up on offshore CCS project in Malaysia
Image: ADNOC Energy giants Abu Dhabi National Oil Company (ADNOC) and PETRONAS along with Storegga have signed a joint study and development agreement (JSDA) to explore and develop carbon capture and storage (CCS) solutions in the Penyu basin, offshore Peninsular Malaysia. The collaboration aims to establish at least five million tonnes per annum (mtpa) of carbon dioxide (CO2) storage capacity by 2030. The agreement focuses on identifying suitable saline aquifers for safe and permanent CO2 storage, enhancing Malaysia's potential as a regional CCS hub. The partners will conduct a range of studies, including geophysical and geomechanical modelling, reservoir simulation and logistics planning while leveraging advanced technologies such as artificial intelligence to maximise storage efficiency. Aligned with PETRONAS and Malaysia's aims "This agreement with ADNOC and Storegga will potentially allow us to build our capability to develop and de-risk saline aquifers as carbon dioxide storage sites," said Nora'in Md Salleh, CEO of PETRONAS CCS Solutions. "This strategic partnership aligns with PETRONAS' goal of establishing Malaysia as a regional CCS hub, contributing to the national climate target." Malaysia's geological wealth of deep saline aquifers presents an opportunity for large-scale CO2 storage, essential for the country's role in global decarbonisation efforts. The Malaysian government, recognising the importance of CCS, is set to introduce a standalone carbon capture, utilisation and storage (CCUS) bill by the end of 2024. ADNOC's SVP for New Energies, Hanan Balalaa, emphasised the significance of carbon capture in achieving the company's Net Zero by 2045 target. "We are committed to working with trusted global partners like PETRONAS and Storegga to develop and utilise global carbon management hubs, enabling our customers to reduce their emissions and supporting their decarbonisation goals," Balalaa said. Storegga's CEO, Tim Stedman, noted the pioneering nature of the partnership. "This partnership is an opportunity to develop a world-class CCS hub and bring about large-scale industrial decarbonisation. Storegga's experience from other leading CCS regions, combined with our partners' expertise, represents a united intent to tackle climate change now," Stedman remarked. The JSDA's activities are expected to commence later this year, marking a significant step towards establishing a regional CCS hub in Southeast Asia that serves both domestic and international emitters. The initiative is poised to accelerate CCS deployment in the region and strengthen ties between Malaysia, the UAE and key industry players. ADNOC is targeting a total carbon capture capacity of 10 mtpa by 2030, equivalent to the emissions from two million internal combustion vehicles, further demonstrating the global push towards decarbonisation.
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ADNOC, Petronas and Storegga to collaborate on offshore carbon capture and storage in Malaysia
KUALA LUMPUR - ADNOC, PETRONAS and Storegga announced today the signing of a Joint Study and Development Agreement (JSDA) to evaluate the carbon dioxide (CO2) emissions storage capabilities of saline aquifers and the construction of carbon capture and storage (CCS) facilities in the Penyu basin, offshore Peninsular Malaysia. The agreement is targeting at least 5 million tonnes per annum (mtpa) of CO2 capture and storage capacity by 2030, and 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 artificial intelligence (AI), to enhance storage capacity. Nora'in Md Salleh, PETRONAS CCS Solutions Sdn. Bhd. (PCCSS)' s Chief Executive Officer, said, "This agreement with ADNOC and Storegga will potentially allow us to build our capability to develop and de-risk saline aquifers as carbon dioxide storage sites by leveraging on our partners' expertise and experience in other regions. "This strategic partnership aligns with PETRONAS' overarching goal of establishing Malaysia as a regional CCS hub to serve Asia Pacific, where it may build up the storage capacity through saline aquifers. This also demonstrates our earnestness in establishing the right pace to deliver CCS hubs here while also contributing to the national climate target." PETRONAS is a member of Malaysia's National Energy Transition Roadmap (NETR) Committee, which has identified CCS as one of six energy transition levers to enable the country to be sustainable, low-carbon and resilient. The Malaysian Government is set to table a standalone CCUS bill by the end of 2024. Nora'in Md Salleh added, "Malaysia is interested in intensifying bilateral economic partnerships with the UAE in the fields of economy, tourism, entrepreneurship, SMEs, fintech, innovation, transportation, renewable energy, logistics, agriculture, food security, environment and infrastructure within the Malaysia-UAE Joint Committee for Cooperation (JCC) framework. "With the signing of the JSDA, PETRONAS supports the JCC and enhances the established relationship between PETRONAS and ADNOC, reciprocating PETRONAS' presence in ADNOC's unconventional upstream business in Abu Dhabi." Having Storegga as a partner to collaborate in Malaysia is imperative, as Storegga is one of the few companies that boldly took the first steps to progress CCS globally when it was in its infancy stage. Today, Storegga is widely recognised as one of the leading players in this space. Hanan Balalaa, ADNOC Senior Vice President for New Energies, said, "Carbon capture is an important tool to responsibly reduce carbon emissions and ADNOC will continue to develop this technology as we work towards our Net Zero by 2045 goal. We are committed to working with trusted global partners like PETRONAS and Storegga to develop and utilise global carbon management hubs, enabling our customers to reduce their emissions and supporting their decarbonisation goals." Malaysia's geological abundance of deep saline aquifer reservoirs should allow for the development of large-scale, permanent CO2 storage solutions, and the agreement will significantly accelerate regional CCS deployment while strengthening collaboration between the strategic partners. The success of this initiative will lay the foundations for a regional CCS hub serving both domestic and international emitters. ADNOC is targeting a carbon capture capacity of 10 mtpa by 2030, equivalent to those released by 2 million internal combustion vehicles. Tim Stedman, CEO of Storegga, said: "This pioneering partnership is an opportunity to develop a world-class CCS hub and bring about large-scale industrial decarbonisation. Storegga's experience from other leading CCS regions, plus the expertise of our partners, represent a combined intent to act now to tackle climate change." The JSDA's activities are provisionally scheduled to begin later this year.
[3]
ADNOC and partners to evaluate offshore CCS in Malaysia
Malaysia's Petronas, the UAE's ADNOC and UK-headquartered Storegga announced on Tuesday the signing of a Joint Study and Development Agreement (JSDA) to evaluate the carbon dioxide (CO2) emissions storage capabilities of saline aquifers and the construction of carbon capture and storage (CCS) facilities in the Penyu basin, offshore Peninsular Malaysia. The agreement is targeting at least 5 million tonnes per annum (mtpa) of CO2 capture and storage capacity by 2030 and 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 artificial intelligence (AI), to enhance storage capacity, according to an ADNOC press statement. The JSDA's activities are provisionally scheduled to begin later this year, the statement noted. ADNOC is targeting a carbon capture capacity of 10 mtpa by 2030. (Editing by Anoop Menon) (anoop.menon@lseg.com) Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
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Abu Dhabi National Oil Company (ADNOC), PETRONAS, and Storegga have signed an agreement to evaluate the development of offshore carbon capture and storage (CCS) projects in Malaysia. This collaboration aims to support Malaysia's net-zero goals and advance the country's decarbonization efforts.
Abu Dhabi National Oil Company (ADNOC), PETRONAS, and Storegga have entered into a strategic partnership to explore the development of offshore carbon capture and storage (CCS) projects in Malaysia 1. This collaboration marks a significant step towards advancing Malaysia's decarbonization efforts and supporting the country's net-zero ambitions.
The three companies have signed a memorandum of understanding (MoU) to evaluate potential CCS opportunities off the coast of Malaysia 2. The agreement focuses on assessing the technical and commercial viability of carbon dioxide (CO2) storage sites in Malaysian waters. This initiative aims to create a carbon storage hub capable of storing emissions from Malaysia and potentially neighboring countries.
ADNOC, the UAE's largest energy company, brings its expertise in developing large-scale CCUS projects. PETRONAS, Malaysia's national oil and gas company, contributes its deep understanding of the local market and regulatory landscape. Storegga, a UK-based carbon management business, offers its technical knowledge in carbon capture and storage technologies 3.
The partnership has the potential to significantly reduce carbon emissions in Malaysia and the broader region. By leveraging offshore geological CO2 storage, the project could play a crucial role in helping Malaysia achieve its goal of becoming carbon neutral by 2050 1. Additionally, this initiative could create new economic opportunities and position Malaysia as a leader in carbon capture and storage technology in Southeast Asia.
This collaboration aligns with the growing global focus on reducing greenhouse gas emissions and combating climate change. It demonstrates the commitment of both national oil companies and private sector entities to invest in innovative solutions for a low-carbon future 2.
The partners will now begin a comprehensive evaluation process, including technical and economic feasibility studies. If successful, this project could pave the way for similar initiatives in the region, potentially creating a network of CCS hubs across Southeast Asia 3. The success of this venture could also attract further international investment in Malaysia's emerging green technology sector.
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Saudi Aramco and SLB (formerly Schlumberger) have signed a framework agreement to develop digital sustainability technologies. The collaboration aims to address climate change and advance sustainable energy solutions.
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Abu Dhabi National Oil Company (ADNOC) has signed a long-term Heads of Agreement with Japan's Osaka Gas for LNG supply from the Ruwais project. This deal marks a significant step in ADNOC's global LNG expansion strategy.
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Borouge, along with ADNOC and Borealis, signs agreement to build a speciality polyolefins complex in Guangzhou, China. The project aims to meet growing demand for advanced polymer solutions in Asia.
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Abu Dhabi National Oil Company (ADNOC) has deployed an advanced AI-enabled process optimization technology called Neuron 5 across its operations. This innovative system aims to improve efficiency, reduce emissions, and optimize resource utilization.
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