kuala lumpur: JX Nippon Oil & Gas Exploration Co., Ltd. (JX) and Petronas Caligari Sdn Bhd (PCSB), a wholly owned subsidiary of Petroleum Nacional Bhd (Petronas), reached a basic agreement to jointly make a business value proposition to Petronas. signed a letter of intent (HoA).
In today’s statement, JX President and CEO Toshiya Nakahara said the proposal would include the development of high carbon dioxide (CO2) gas fields offshore Peninsular Malaysia and the initiation of discussions on potential stakes in these fields. said to be included.
Based on an agreement with PETRONAS, JX, which conducts the oil development business, will conduct joint research with the Japan Oil, Gas and Metals National Corporation (currently the Japan Metals and Energy Security Corporation) from April 2020 to September 2021. It was conducted.
This study will use carbon capture and storage (CCS) technology to capture CO2 from the gas produced and reinject it either in situ or into a nearby mature gas field in an environmentally friendly scheme. was conducted to pursue the commercialization potential of .
“Based on the results of a survey that the development of such high-CO2 gas fields using CCS technology is feasible with little impact on the environment, JX decided to develop these gas fields as PCSB and further develop them. decided to work together to evaluate and submit a business value proposition to PETRONAS.
JX understands that this initiative will contribute not only to the stable supply of natural gas to Peninsular Malaysia, but also to business expansion in Malaysia, one of JX’s core countries. Stated. – Bernama
