Petros launches Sarawak Bid Round 2024, calls bids for 3 carbon storage sites in Sarawak

Nazrin (centre) together with the participants at the Sarawak Bid Round 2024.

By DayakDaily Team

KUCHING, July 24: Petroleum Sarawak Berhad (Petros) today launched the Sarawak Bid Round (SBR) 2024, calling for bids among multinational companies to develop the carbon capture, utilisation and storage (CCUS) industry in Sarawak.

In a statement, Petros said 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.

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.

Meanwhile, 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.

On the other hand, Site 3 features saline aquifers and depleted fields in the Central Luconia province, including high-quality reservoirs and existing oil and gas (O&G) infrastructure, with potential nearby sour gas field development offering integrated development opportunities.

Petros senior vice president for Sarawak Resource Management, Nazrin Banu Shaikh Sajjad Ahmad, in her keynote speech, said with Petros as the resource manager of CCUS, the bid round provides a unique platform for stakeholders to explore and implement cutting-edge solutions that will drive Sarawak’s development goals and economic growth as it moves towards Net Zero goals.

In addition to CCUS, she said Petros is 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),” she said.

The launching ceremony for the bid was attended by almost 200 participants by invitation only from multinational companies, including upstream players, carbon emitters, infrastructure developers, service providers, shipping companies, financial institutions, and consultancy firms.

For more information and to participate in Sarawak Bid Round 2024, contact [email protected]. — DayakDaily