PETALING JAYA: Petroliam Nasional Bhd (PETRONAS) has signed two project development agreements with ExxonMobil Exploration and Production Malaysia Inc to jointly pursue carbon capture and storage (CCS) activation projects in the country.
Under the agreements, both parties will define the next steps, including the maturation of technical scopes for the CCS value chain, evaluation of the identified fields for CO2 storage utilisation, development of appropriate commercial framework and establishment of advocacy plan support on regulations and policy development in enabling CCS projects.
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