PETROS ISSUED FIRST LICENSE FOR CARBON STORAGE

Date: 15 March 2023

KUCHING, Sarawak, 15 March 2023 - Petroleum Sarawak Berhad (PETROS) was today issued the first Licence for Carbon Storage to begin its strategic role as Resource Manager for the State’s natural Carbon Capture, Utilisation and Storage (CCUS) resources.

The licence, issued by Sarawak Land and Survey Department, covers an area located in the North Luconia province, offshore Bintulu.

During PETROS’ 5^th year anniversary celebrations in October last year, Sarawak Premier YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Bin Tun Datuk Abang Haji Openg announced that, given its technical expertise and resources, the State-owned oil and gas company would be the resource manager for CCUS in Sarawak, with collaboration and support from the relevant ministries.

Commenting on the issuance of the licence, PETROS Group Chief Executive Officer, Janin Girie said, “With an abundance of storage potential in offshore areas, Sarawak is blessed with the biggest potential of carbon storage capacity in Malaysia. We welcome organisations who are committed about achieving their decarbonisation targets to explore utilising CCUS potential in Sarawak with PETROS.” 

“Development of CCUS infrastructure will unlock and commercialise the development of stranded sour gas reserves offshore Sarawak. The additional gas unlocked by CCUS can ensure long-term energy and gas supply security for Sarawak – complementing the energy transition for Sarawak and Malaysia.”

“Down the line, the base CCUS infrastructure established to enable the sour gas field development can be further expanded to allow other carbon dioxide (CO₂) emitters, both local and foreign, to capture and store CO₂, to reduce the greenhouse warming effect and enabling the realisation of a Net carbon-Zero economy,” he added. 

“These infrastructure expansions, in turn, will create business opportunities to operate CCUS infrastructures, generating revenue for the State economy, whilst further developing local capabilities,” he concluded.

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