DNV and PETRONAS join forces to support development of CCUS
DNV, a world-leading classification society, and PETRONAS, Malaysia’s national oil company, have joined forces to support the development of carbon capture utilization and storage (CCUS).
CCUS is a key technology for managing carbon dioxide emissions from industrial facilities such as power plants and refineries. DNV and PETRONAS will work together to promote CCUS technologies and help spur their adoption in the oil and gas sector.
This partnership builds on DNV’s expertise in CCUS and PETRONAS’ experience in developing and operating large-scale carbon management projects.
The MOU was signed on July 8 by PETRONAS Senior General Manager of Carbon Management, En. Emry Hisham Yusoff and Vice President & Regional Director Asia Pacific, Energy Systems at DNV, Brice Le Gallo.
The agreement will see the two organizations work together to advance CCUS research and development, with a focus on reducing greenhouse gas (GHG) emissions from industrial activities.
As part of the partnership, DNV will provide technical expertise and support to PETRONAS in areas such as carbon dioxide (CO2) capture, transport, and storage. The goal is to develop safe and efficient CCUS technologies that can be deployed at scale to help mitigate the impact of climate change.
CCUS is considered as a key technology in the fight against climate change. However, the development of CCUS faces a number of challenges, including technical and financial barriers. The two organizations will work together to create a roadmap for the development of CCUS in Malaysia. This will include identifying financial and technical barriers to CCUS development and identifying potential solutions. In addition, the two organizations will also work together to raise awareness of CCUS among the general public and decision-makers.
“DNV’s expertise and track record in supporting CCUS projects globally, combined with PETRONAS’ technical capabilities and strategic resources, will spur the advancement of CCUS not only in Malaysia but across the region,” said Jamie Burrows, head of Business Development – CCUS, Energy Systems at DNV. “CCUS will play a crucial role in Asia’s energy transition. Through this initiative we aim to address a number of areas fundamental to the establishment of regional hubs and thereby enable greater access to CCUS infrastructure,” he added.
