Petronas, DNV sign pact for certification of CO2 storage sites in Malaysia

Petronas CCS Ventures, a unit of Petronas, and Norwegian risk management and assurance firm DNV have recently signed an agreement for the certification of carbon dioxide (CO2) storage sites and associated facilities for carbon capture and storage (CCS) projects in Malaysia, Petronas announced on 6 June.

This agreement builds on a memorandum of understanding signed between the parties in 2022, during which strategic working groups explored topics relevant to CCS.

“This agreement signifies Petronas CCS Ventures’ dedication in ensuring that our CCS development meets international standards, as we harness our strategic resources and expertise to drive meaningful change in the region's energy landscape,” said Emry Hisham Yusoff, CEO of Petronas CCS Ventures.

Petronas is aiming to achieve net zero carbon emissions by 2050 and has established growth targets for cleaner energy solutions, including CCS.

The Malaysian state-owned company is already engaged in multiple CCS projects including the Kasawari project, located offshore Malaysia. Operated by Petronas Carigali, a unit of Petronas, the Kasawari CCS project is expected to reduce carbon dioxide volume emitted via flaring by 3.3 tonnes CO2e/year.

Petronas Carigali reached the final investment decision on the Kasawari project in 2022.