Petronas partners with ExxonMobil on CCS projects

Agreement adds to growing list of carbon-capture alliances forged by Malaysian oil and gas company

Malaysian NOC Petronas has added to its rapidly growing portfolio of joint ventures and collaboration in the CCS sector with an agreement to develop two projects in Malaysia with US oil major ExxonMobil. The agreement comes after the two companies signed a broader memorandum of understanding (MoU) in 2021 in one of Petronas’ first CCS-related collaborations. Since then, it has formed multiple alliances aimed at developing CCS, with the number of agreements signed last year alone reaching double figures. These include an agreement in November to work with Dutch oil and gas storage company Vopak on the development CCS infrastructure in Southeast Asia with an initial focus on industrial project