KUALA LUMPUR: Petroleum Sarawak Bhd (Petros) today launched the Sarawak Bid Round (SBR) 2024, calling for bids from multinationals to develop the carbon capture, utilisation and storage (CCUS) industry in Sarawak.
The launch was attended by almost 200 participants by invitation only from multinational companies, including upstream players and carbon emitters.
Petros said in a statement, three carbon storage sites have been identified for this bid round, each offering unique advantages and opportunities for successful CCUS studies with an estimated total storage capacity of approximately 1,000 million tonnes (MT) CO2e.
The bid round aims to promote and showcase Sarawak's carbon storage capabilities, providing a transparent and competitive platform for potential investors interested in conducting techno-commercial storage studies to develop the CCUS value chain in Sarawak.
Petros senior vice president for Sarawak resource management Nazrin Banu Shaikh Sajjad Ahmad said when delivering her keynote at the event, "Sarawak Bid Round 2024 is more than just an event; it is a strategic milestone towards a low-carbon economy – enabled by the CCUS industry. We invite forward-thinking companies to join us in the economic development of Sarawak, leveraging its vast CCUS geological potential."
She said through purposeful collaboration between Petros as the resource manager of CCUS and competent companies, Sarawak can achieve its vision to be the regional low-carbon solution provider of choice and establish Sarawak as the CCUS heartland for the Asia Pacific region.
Site 1 is offering a saline aquifer in the Southwest and Western Luconia province, which will be the centre of energy growth supporting the establishment of the Kuching Economic Hub.
It will enable sour gas fields development and decarbonisation of new industries in Kuching as well as existing local emissions.
Site 2 comprises several depleted fields nearing the end of their field life in the Balingian province – this site's proximity to shore aligns with the potential development of a new onshore gas plant.
Site 3 features saline aquifers and depleted fields in the Central Luconia province, including high-quality reservoirs and existing oil & gas infrastructure, with potential nearby sour gas field development offering integrated development opportunities.
In addition to CCUS, Petros is also committed to rejuvenating onshore oil and gas potential in Sarawak and advancing early commercialisation of onshore oil and gas discoveries.
Today, Adong Kechil West in Block SK433, located 24 km from Miri town, is progressing well towards first production and commercialisation in 2025."
"Replicating this success is key for onshore upstream rejuvenation, and Petros is investing significantly to de-risk the petroleum system element and further upgrade onshore prospectivity in all onshore blocks, particularly in Blocks SK334 (Limbang-Lawas), SK431 and SK441 (Oya-Mukah-Balingian).
Currently, we are carrying out more studies through seismic reprocessing and seismic acquisition and looking into the application of enhanced full tensor gravity (e-FTG) technology in onshore Sarawak," Nazrin said.