KUALA LUMPUR: Reservoir Link Energy Bhd's subsidiary Reservoir Link Solutions Sdn Bhd has signed a memorandum of understanding (MoU) with Ad Terra Asia Sdn Bhd to explore collaboration opportunities in carbon capture, utilisation, and storage (CCUS) projects.
In a statement today, the energy related services provider said both parties intend to work together to jointly participate and execute projects, leveraging their respective expertise, allowing Reservoir Link to offer CCUS technologies and subsurface, geology and geophysical studies to its customers in Malaysia.
It said the collaboration underscores both parties' shared commitment to create solutions that meet the increasing demand for carbon capture in the energy industry.
The MoU will be valid for six months, with an option to extend for an additional six months.
Ad Terra Asia Sdn Bhd is a wholly-owned subsidiary of Ad Terra Consultancy SA that provides technical, commercial and regulatory support to the energy sector internationally since 2010. Reservoir Link executive deputy chairman Thien Chiet Chai said the decision to invest in CCUS is a direct response to the growing demand for sustainable energy solutions which also aligns with Petroleum Sarawak Berhad's (Petros) initiatives.
"As we continue to evolve, we are focusing on technologies that not only drive profitability but also create long-term value by addressing the environmental challenges faced by the industry. "This collaboration with Ad Terra Asia Sdn Bhd allows us to tap into the necessary expertise to make a meaningful impact on Malaysia's carbon reduction efforts as well as diversifying our business offerings," he added.
Reservoir Link's share price rose 1.7 per cent or half sen to 29.5 sen at midday, valuing the company at RM99 million.