Sarawak bids to lead Asia in carbon storage with RM100 mln Petros initiative, says Deputy Premier
Awang Tengah says the initiative aims to build a globally competitive carbon storage portfolio, enhancing Sarawak's expertise, investment appeal, and progress towards a low-carbon, sustainable economy. – Photo by Sarawak Public Communications Unit
KUCHING (May 28): Petroleum Sarawak Berhad (Petros) together with its investors has committed more than RM100 million to evaluate Sarawak's carbon storage potential and develop a comprehensive database, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
He said the initiative aims to build a globally competitive carbon storage portfolio, enhancing Sarawak's expertise, investment appeal, and progress towards a low-carbon, sustainable economy.
'Petros, as the appointed resource manager, has launched the Sarawak Bid Round 2024 – Asia's first carbon storage-focused bid round – offering three offshore storage sites with significant geological potential.
'Petros is currently finalising the agreement and plans to award the successful bidders by end of Q2 2025,' he said during his ministerial winding-up speech here today.
Awang Tengah added that Petros is positioning Kuching and Samalaju as key hubs for Carbon Capture, Utilisation and Storage (CCUS), supported by the development of advanced infrastructure to establish integrated carbon storage systems within the next decade.
'This initiative will enable Sarawak to provide carbon storage solutions for both domestic and international emitters, opening up new opportunities in the CCUS industry,' he said.
He noted that Sarawak is poised to lead regional CCUS efforts, with the state holding more than 65 per cent of Malaysia's geological carbon storage potential.
'Sarawak is at the forefront of national and regional decarbonisation initiatives, driving sustainable solutions and reinforcing its key role in the global low-carbon economy,' he added. Awang Tengah carbon storage DUN Petros
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