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
-
This $4.1M Deal Could Change Carbon Capture's Playbook
Inside This Issue 🗜️ CarbonQuest Lands $4.1M Alberta Deal on Gas Compressors 🛡️ CADO, 123Carbon, and Assure SAF Registry Join Forces to Tackle SAF Integrity Gaps ✈️ ISCC, OMV, and Airbus Partner t...
-
Can Koloma Crack Iowa's Billion-Year-Old Secret?
Inside This Issue ⛏️ Iowa's Hydrogen Rush: Can Koloma Strike Gold Before Rules Kick In? ✈️ Bentley Commits to Use 100% Sustainable Aviation Fuel for Car Airfreight 🌬️ Minister Parrott Provides Upd...
-
$47M Just Poured Into This SAF Producer
Inside This Issue 💰 LanzaJet Announces $47M in New Capital and First Close of Equity Round at $650M Pre-Money Valuation 🚢 Maersk's Ethanol Bet Could Reshape U.S. Fuel Markets 🪨 Canada Nickel and t...
Company Announcements
-
Feedstocks are Perennial Grasses and other Renewable Biomass Sources FREDERICK, Md., Feb. 18, 2026 /PRNewswire/ -- Do you know why passenger and freight planes are not using renewable biofuel? It'...
-
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Q Precious & Battery Metals Corp. (CSE: QMET) (OTC Pink: BTKRF) (FSE: 0NB) ("QMET" or the "Company") congratulates Quebec Inn...
-
Carbon Direct and C2X Announce Collaboration on Pioneering Forestry Residue-to-Biofuel Project
Collaboration on C2X’s Beaver Lake Biofuels project advances biomass carbon removal and storage as a scalable climate solution, transforming Louisiana’s forestry and sawmill residues into biofuel a...
-
Carbon Direct and C2X Announce Collaboration on Pioneering Forestry Residue-to-Biofuel Project
Collaboration on C2X’s Beaver Lake Biofuels project advances biomass carbon removal and storage as a scalable climate solution, transforming Louisiana’s forestry and sawmill residues into biofuel a...