Petronas partners with Exxon Mobil to explore carbon storage opportunities

Malaysia's state energy firm, Petroliam Nasional Berhad (Petronas), said on 2 Nov it has partnered with a Malaysian unit of Exxon Mobil Corp (XOM.N) to jointly explore opportunities in carbon capture and storage (CCS) technologies in a bid to decarbonise the country's upstream industry. Exxon Mobil said last month that it wants to build CCS hubs in Southeast Asia and has begun talks with countries with potential storage options for carbon dioxide. According to the memorandum of understanding signed on 3 Nov, both companies will assess the viability of potential CCS projects in selected locations offshore Peninsular Malaysia and identify suitable technology for potential application, Petronas said. The companies will also share subsurface technical data to enable CO2 storage assessment and characterisation.