A licence for this venture will be issued as soon as the new rules for carbon storage are gazetted in early 2023, according to Sarawak Premier Datuk Patinggi Abang Johari Tun Openg.
“The depleted or abandoned oil fields in offshore areas are suitable for development into sites for secured, permanent storage of CO2 captured by oil and gas companies that now have obligations to reduce emission of CO2 into the atmosphere. The state assembly had earlier this year approved the amendments to the Forests Ordinance and Land Code to enable Sarawak to initiate activities which will reduce emission of greenhouse gases to mitigate the effects of global warming.
“Under the forest carbon activities concept, after decades of logging for merchantable timbers, Sarawak will pursue a new direction in forestry management of preserving our trees, planting more trees, restoring and rejuvenating our logged over areas or degraded forests.
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