State oil and gas company Pertamina has established strategic cooperation with Korea National Oil Corporation (KNOC) and ExxonMobil for the development of cross-border Carbon Capture and Storage (CCS) between Indonesia and South Korea.
Cooperation between the three parties was marked by the signing of a Framework Agreement held at the 48th Indonesia Petroleum Association (IPA) Convention & Exhibition on Wednesday May 15, 2024.
The agreement was signed by Pertamina’s President Director, Nicke Widyawati, President & CEO, Korea National Oil Corporation (KNOC) Dong Sub Kim, and President, ExxonMobil Low Carbon Solutions, Asia Pacific, Irtiza Sayyed.
The milestone was witnessed by Acting Deputy Chief of Mission of the US Embassy, Jason Rebholz, Representative of the Embassy of South Korea Director Energy Technologies Division, Ministry of Trade, Industry and Energy, Hong Sukyong and Deputy for Coordination of Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment, Jodi Mahardi.
Through this cooperation, the three parties will implement a cooperative framework to expand CCS trans-boundary value chain collaboration and map potential collaboration, technology transfer, transport, and CO2 storage locations. This is expected to support the development of CCS projects both in Indonesia and South Korea.
Pertamina President Director, Nicke Widyawati, said that this strategic cooperation is evidence of Pertamina’s seriousness to encourage CCS and carbon reduction program initiatives in Indonesia, including to develop the potential to store domestic and international CO2 in Pertamina’s working areas.
“The collaboration with KNOC and ExxonMobil is proof of Pertamina’s seriousness to accelerate the energy transition and carbon reduction program in Indonesia by collaborating with international partners. The goal is to develop carbon storage in Indonesia because it has enormous carbon storage potential in the Southeast Asia region,” Nicke said.
President of ExxonMobil Low Carbon Solutions, Asia Pacific, Irtiza Sayyed said that this collaboration was carried out to accelerate the emission reduction program, “Together with Pertamina, KNOC and the support of the Indonesian Government, we continue to encourage emission reduction programs as well as to encourage economic growth in Indonesia and throughout the region.”
