DNV, the independent expert in risk management and assurance and Petroliam Nasional Berhad (PETRONAS), a global energy and solutions partner, ranked amongst the largest corporations in Fortune Global 500 signed a Memorandum of Understanding (MOU) to address the technical, regulatory and business challenges of carbon capture utilization and storage (CCUS) deployment, according to the company's release.
The companies plan to collaborate on initiatives and activities related to CCUS deployment by leveraging each organisation’s technical skills, resources and research capabilities. CCUS enables the capture of CO2 emissions from industrial activities and in South-East Asia could play a crucial role in the region’s transition to net zero.
The MOU provides for the collaboration of both parties in the following areas:
Technical matters including safety, environment, risk, technology and the qualification of storage sites
Legislation and regulation
Capability development
Commercial areas
The MOU was signed on 8 July 2022 by PETRONAS Senior General Manager of Carbon Management, En. Emry Hisham Yusoff and Vice President & Regional Director Asia Pacific, Energy Systems at DNV, Mr. Brice Le Gallo.
DNV is the independent expert in risk management and assurance, operating in more than 100 countries. DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification and certification services.