Indonesia's Pertamina, ExxonMobil Plan Appraisal Drilling in Carbon Capture Effort
Published by Todd Bush on May 16, 2024
TANGERANG, Indonesia, May 15 (Reuters) - State energy firm Pertamina and U.S. major ExxonMobil plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.
>> In Other News: SAF Production in France: Haffner Energy Announces New Strategic Project
Indonesia, which estimates its depleted oil and gas reservoirs and saline aquifers could provide storage for hundreds of gigatonnes of CO2, this year allowed CCS operators to set aside 30% of their storage capacity for imported carbon.
During the Indonesia Petroleum Association's annual conference on Wednesday, Pertamina and ExxonMobil signed a deal for preliminary work to design a commercial model for the Asri Basin Project CCS hub.
"Pertamina Hulu Energi and ExxonMobil will carry out appraisal drilling in order to collect data which will later become a reference for the development of the hub," said Awang Lazuardi, chief executive of Pertamina Hulu Energi.
A preliminary joint study by Pertamina and Exxon found that the Asri basin, in Pertamina's Offshore South East Sumatra block, had the capacity to store up to 3 gigatonnes of carbon dioxide and would require investments of $2 billion.
The companies also signed a framework agreement with South Korea's KNOC allowing it to join the partnership and inject emissions into the facility, Nicke Widyawati, chief executive of Pertamina, told reporters on the sidelines of the conference.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Companies
Latest issues
-
It's Buried. California's First Underground CO₂ Project Goes Live.
Inside This Issue 🏜️ California Resources Corporation Achieves First CO₂ Injection at Carbon TerraVault I, a Major Milestone for Carbon Management in California 💂 Plug and Carlton Power, Barrow Gr...
-
Microsoft's "Pause" Just Produced 650,000 Tonnes of BECCS Microsoft's "Pause" Just Produced 650,000 Tonnes of BECCS
Inside This Issue 🌱 Microsoft's BioCirc Deal Signals BECCS Is Now Bankable 🔎 Hydrogen Exploration in Iowa Well Underway 🛢️ Alberta Sees Oil Sands Deal on Carbon Project Within Two Months 🍁 This Ca...
-
2.3 Million Tonnes Removed. One Buyer Did Half.
Inside This Issue 🛫 Boeing Backs $10M Quebec SAF Project to Fly by 2027 🏗️ Eni CCUS Holding Expands the Financing Sources for Its Platform of CCS Projects 🍁 GeoRedox and Canada Nickel Launch First...
Company Announcements
-
Ohio Senate Passes Substitute Bill on Carbon Capture and Storage Activity
Legislation introduced over a year ago to allow for carbon capture and storage (CCS) activity in Ohio has progressed through the Senate, but in a different version than passed by the House. Delibe...
-
Reaching final investment decision (FID) is one of the clearest signals that a project is moving from vision to reality. That’s why the 30 MW Barrow Green Hydrogen project reaching FID is such a s...
-
Project Paves the Way for a Carbon Capture Industry in the Golden State KERN COUNTY, Calif., May 26, 2026 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) has achieved the first la...
-
Vallourec AND Syngular Solutions SIGN A MEMORANDUM OF UNDERSTANDING TO ACCELERATE THE DEVELOPMENT OF BIOENERGY WITH CARBON CAPTURE AND STORAGE PROJECTS Meudon (France), on May 22, 2026 – Vallourec...