Energy giant Petronas and JX Nippon Oil & Gas Exploration Corp have agreed to jointly build the first CCS project in Peninsular Malaysia.
The joint venture revolves around monetizing the gas potential in several fields offshore Malaysia.
And according to Petronas, carbon capture and storage or CCS technology will be a crucial component of the joint project with JX Nippon, due to the high content of CO2 in said gas fields.
The Bujang, Inas, Guling, Sepat and Tujoh (also known as BIGST) fields are located off Kerteh, Terengganu.
This cluster, Petronas said in a statement, is expected to be ‘the catalyst’ needed to fast-track the development of other ‘high contaminant fields’ in the region.
Read more: Exxon And Petronas To Expand Carbon Capture In Malaysia