Joint Study and Development Agreement Signed with Malaysia’s Petronas and UK-based Storegga
On Tuesday, Malaysia’s Petronas, the UAE’s ADNOC, and UK-based Storegga announced the signing of a Joint Study and Development Agreement (JSDA) to assess the potential for carbon dioxide (CO2) emissions storage in saline aquifers and the development of carbon capture and storage (CCS) facilities in the Penyu Basin, offshore Peninsular Malaysia.
The agreement aims to establish a CO2 capture and storage capacity of at least 5 million tonnes per annum (mtpa) by 2030. The scope of the study includes CO2 shipping and logistics, geophysical and geomechanical modeling, reservoir simulation, and containment research. It will also explore the application of advanced technologies, such as artificial intelligence (AI), to enhance storage capacity, according to a statement released by ADNOC.
The activities under the JSDA are expected to commence later this year, the statement added.
ADNOC has set a target to achieve a carbon capture capacity of 10 mtpa by 2030.