ADNOC, Petronas, and Storegga Ltd. signed a joint study and development agreement (JSDA) to evaluate the CO2 emissions storage capabilities of saline aquifers and the construction of carbon capture and storage (CCS) infrastructure in the Penyu basin, offshore Peninsular Malaysia.
The agreement is targeting at least 5 million tonnes/year of CO2 capture and storage capacity by 2030 and its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modeling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity, the companies said in a joint release Aug. 20.
The JSDA’s activities are provisionally scheduled to begin later this year.