Eneos unit, Petronas to invest in new Malaysian gas field

JX Oil & Gas accelerates shift to Southeast Asia, devoting over $648m to project

JX's energy project in Malaysia. The company has focused more on Southeast Asia in recent years. (Photo courtesy of JX Nippon Oil & Gas Exploration)

MAO KAWANO, Nikkei staff writer

November 18, 2024 03:01 JST

TOKYO -- JX Nippon Oil & Gas Exploration, a resource developer under Japanese energy group Eneos Holdings, will invest more than 100 billion yen ($648 million) to drill a new natural gas field in Malaysia, in an operation with Petronas, Malaysia's state-owned oil company.

The companies aim to begin production in 2026 or later. Carbon dioxide (CO2) generated during natural gas production will be buried underground to suppress carbon emissions.