M3 Field

The M3 Field Carbon Storage Project is a collaborative initiative led by PETRONAS and Petroleum Sarawak Berhad (PETROS), working in partnership with a Japanese consortium comprising JAPEX, JGC Holdings, and Kawasaki. In February 2024, they signed a Storage Site Agreement (SSA) for the offshore M3 depleted field, initiating feasibility studies for potential CO₂ storage. These studies will assess site suitability and include planning for supporting infrastructure such as onshore terminals, transportation pipelines, and detailed techno-commercial evaluations The consortium is progressing towards early commercialization by commissioning CCS engineering design work, including capture systems, CO₂ transport logistics, and storage protocols and evaluating the equipment and costs required across the value chain. This coordinated effort is intended to catalyze CCUS deployment in the region and strengthen the decarbonization ecosystem between Malaysia and Japan