PETRONAS announced its signing of the Joint Study and Collaboration Agreement (JSCA) with Sarawak Shell Berhad (Shell) to collaborate in exploring opportunities for carbon capture and storage (CCS) solutions in Malaysia and the region.

According to the agreement, PETRONAS and Shell will conduct a CCS Area Development Plan study to support decarbonizing the selected locations of the two parties at offshore Sarawak.

It should be noted that PETRONAS has signed a memorandum of understanding (MoU) with ExxonMobil Exploration and Production Malaysia Inc. to explore opportunities in CCS technologies, in November 2021.

Additionally, it signed MoU with POSCO International Corporation and POSCO Engineering & Construction Co. Ltd, in December to search for CCS potential and identify suitable technology within the scope of carbon capture, transportation of CO2 and storage for potential application.