PETROS, PETRONAS, and Japanese Consortium Parties Sign Landmark Storage Site Agreement

KUALA LUMPUR, Feb 29 (Bernama) — Petroleum Sarawak Berhad (PETROS), PETRONAS, through its subsidiary – CCS Ventures Sdn Bhd (PETRONAS CCS Ventures), and Japanese Consortium Parties comprising Japan Petroleum Exploration Co., Ltd. (JAPEX), JGC Holdings Corporation (JGC) and Kawasaki Kisen Kaisha, Ltd. (“K”LINE) signed a Storage Site Agreement (SSA) for the M3 depleted field offshore Sarawak, Malaysia, on 26 February 2024.

The SSA not only enables the feasibility studies of the CO2 storage sites starting with the M3 depleted field (M3 CCS Project), but also the planning of relevant CO2 storage site development, including onshore terminals and transportation pipelines, as well as assessment of its techno commercial feasibility.


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