ADNOC, Petronas, and Storegga signed a joint “Study and Development Agreement” on Tuesday to evaluate carbon dioxide storage capabilities in saline aquifers and explore the potential to build carbon capture and storage facilities in the “Bintulu Basin” off the coast of Peninsular Malaysia. The agreement aims to capture and store at least 5 million tons of carbon dioxide annually by 2030. The scope of the work includes studying carbon dioxide shipping and the necessary logistics, conducting geophysical and geomechanical modeling, reservoir simulation, containment research, and exploring the application of advanced technologies, including using AI tools and solutions to enhance storage capacity. Norain Mohamed Salleh, CEO of Carbon Capture and Storage Solutions at Petronas, said: “The agreement with ADNOC and Storegga enables us to develop and de-risk the use of saline aquifers as sites for carbon dioxide storage by leveraging the expertise and experiences of our partners in other regions.” She emphasized that this step reflects their commitment to identifying the best practices for developing local carbon capture and storage hubs and contributing to achieving national climate goals. She added that Malaysia is keen to strengthen and develop bilateral economic partnerships with the UAE in areas such as economy, tourism, entrepreneurship, SMEs, fintech, innovation, transportation, renewable energy, logistics, agriculture, food security, environment, and infrastructure, within the framework of the Joint Cooperation Committee between Malaysia and the UAE. This strategic partnership aligns with Petronas’s overarching goal of establishing Malaysia as a regional hub for carbon capture and storage, serving the Asia-Pacific region by expanding its operations related to saline aquifers.