Overseas energy storage field development

Which oil companies are planning a CO2 storage project?

Oil and gas giants like Petronas, BP and Indonesian state oil firm Pertamina, as well as the Malaysian and Indonesian governments, have proposed projects worth billions of dollars, anticipating growing demand for CO2 storage.

Which country has the highest CO2 storage potential in Southeast Asia?

Malaysia has the highest estimated CO2 storage potential in Southeast Asia, due to the availability of depleted gas fields in the Sarawak and Malay-Tho basins.

Are new projects destined for CO2 storage?

But 78% of new projects planned globally are destined for CO2 storage, according to the Global CCS Institute. The risk of these high-cost abatement schemes, experts say, is that they divert funds away from proven climate solutions, prolong the burning of fossil fuels and, ultimately, cause more emissions.

Which countries have a favourable location for CO2 storage?

Some experts consider both Indonesia and Malaysia as favourable locations to store captured CO2 because of their abundance of depleted oil reservoirs and saline aquifers, which could in principle hold the gas below ground.

How has Japan pushed fossil fuel development in Southeast Asia?

Through initiatives like the Asia Zero Emission Community, Japan has pushed fossil fuel developments in Southeast Asia, including exporting and storing overseas the equivalent of up to one-tenth of its current emissions by 2050, according to a report by Japan’s Research Institute of Innovative Technology for the Earth.

Could depleted oil & gas fields bring carbon dioxide back underground?

(Photo: 350.org) After decades of producing planet-heating fuels, depleted oil and gas fields in Malaysia and Indonesia may have a new purpose: putting carbon dioxide from some of Asia’s top emitters back underground, in a big but risky bet by state oil giants and governments.