Adnoc and partners sign Malaysia carbon capture agreement
21 August 2024
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Abu Dhabi National Oil Company (Adnoc) has announced the signing of a joint study and development agreement (JSDA) with Malaysia’s state oil company Petronas and UK-based Storegga to collaborate on a carbon capture and storage (CCS) project in Malaysia.
Through the JSDA, the partners intend to evaluate the carbon dioxide (CO2) emissions storage capabilities of saline aquifers and the construction of CCS facilities in the Penyu basin, offshore Peninsular Malaysia.
Adnoc said in a statement on 20 August that the project's objective is to develop a CO2 capture and storage capacity of at least 5 million tonnes a year (t/y) by 2030. The partners plan to begin work later this year.
The project's scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research, as well as exploring the application of advanced technologies, including artificial intelligence, to enhance storage capacity.
The Abu Dhabi energy giant said the project will contribute to Adnoc’s targeted CCS capacity of 10 million t/y by 2030.
Petronas is a member of Malaysia’s National Energy Transition Roadmap Committee, which has identified CCS as one of six energy transition levers that will enable the country to be sustainable, low-carbon and resilient. The Malaysian government is set to table a standalone carbon capture, utilisation and storage bill by the end of 2024.
Storegga has a portfolio of CCS projects in the UK, US and Norway. In the UK, Storegga is leading the development of the Acorn CCS project, which is projected to store up to 10 million t/y of CO2 by 2030.
In January, Adnoc purchased a 10.1% equity stake in Storegga.
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