PETROS AND INPEX SIGNS JOINT-COLLABORATION AGREEMENT ON CCS INITIATIVE

Date: 15 February 2023

15 February 2023 - PETROS and INPEX Corporation (INPEX) signed a joint-collaboration agreement (JCA) to explore the potential development of a carbon capture and storage (CCS) project targeting carbon dioxide (CO2) emitted from gas fields that contain high concentrations of CO2, petrochemical industries, power plants, manufacturing industries and other sources in Sarawak. This project is expected to help reduce greenhouse gas emissions in Sarawak and accelerate the decarbonisation of the state’s industries as well as Malaysia as a whole.

Janin Girie, Group CEO of PETROS (centre) and on his left, Nobusuke Shimada, Senior VP, New Ventures & Global Exploration; together with members representing both PETROS and INPEX posing for a group photo after the signing.

PETROS and INPEX will conduct a feasibility study of the project including identifying CCS technologies and methodologies as well as target facilities, and evaluating economics and operational schemes. The companies aim to build economically viable CCS solutions targeting large-scale emitters in Sarawak, Malaysia.

This JCA forms part of PETROS’ journey to ensure that Sarawak fully taps into its global potential in CCUS. This is also in line with CCUS as a key enabler to achieve Net Zero by 2050, and the Right Honourable Sarawak Premier’s confidence in PETROS becoming the resource manager for CCUS with the support from relevant Ministries. 

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