Petronas, Exxon Mobil exploring carbon capture ventures in Malaysia

Offshore staff

KUALA LUMPUR, Malaysia — Petronas has signed agreements with Exxon Mobil to jointly pursue carbon capture and storage (CCS) development projects in Malaysia.

The two companies will work on maturing technical scopes for a CCS value chain, assess fields identified for CO₂ storage, and devise a suitable commercial framework and advocacy plan to support regulations and policy development related to CCS projects.

It follows the signing of a memorandum of understanding between both companies in November 2021.

01.27.2023