Petronas Teams Up With Adnoc, Storegga to Develop Carbon Capture and Storage Hub in Malaysia

Malaysia’s Petroliam Nasional Bhd (Petronas) has signed an agreement with Abu Dhabi’s National Oil Company (Adnoc) and the United Kingdom-based Storegga to jointly study and develop carbon capture and storage facilities in the Penyu basin, located off Peninsular Malaysia’s East Coast. The project will start later this year, aiming to achieve at least five million tonnes of carbon dioxide (CO2) capture and storage capacity per annum by 2030.