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Pertamina, KNOC, and ExxonMobil collaborate to develop CCS
WINDONESIA May 16, 2024
The signing of the cooperation agreement between Pertamina, KNOC, and ExxonMobil for the development of cross-border CCS between Indonesia and South Korea at the IPA Convex 2024 in Tangerang, Banten on May 15, 2024. (ANTARA/Putu Indah Savitri).
Pertamina is working on the development of cross-border Carbon Capture and Storage (CCS) between Indonesia and South Korea in collaboration with the Korea National Oil Corporation (KNOC) and ExxonMobil
"The collaboration with KNOC and ExxonMobil is evidence of Pertamina's commitment to accelerating the energy transition and carbon reduction programs in Indonesia by working with international partners," Pertamina President Director Nicke Widyawati stated in Tangerang City, Banten Province on May 16, 2024.
She added that the aim of the cooperation is to develop carbon storage in Indonesia in order to leverage the overall carbon storage potential in the Southeast Asian region.
The agreement was signed by Nicke, KNOC President and Chief Executive Officer Dong Sub Kim, and ExxonMobil Low Carbon Solutions Asia Pacific President Irtiza Sayyed.
Through the collaboration, the three parties will implement a cooperative framework to expand the trans-boundary CCS value chain collaboration as well as explore further potential avenues of collaborations, technology transfer, transportation, and carbon storage locations.
"This is expected to support the development of CCS projects both in Indonesia and South Korea," said Nicke.
Echoing Nicke's sentiments, Irtiza Sayyed stated that the cooperation is aimed at accelerating emission reduction programs.
"Together with Pertamina, KNOC, and the support of the Indonesian government, we continue to push for emission reduction programs in order to also drive economic growth in Indonesia and across the region," said Irtiza.
Previously, Pertamina Upstream Subholding unit Pertamina Hulu Energi (PHE) entered into a preliminary agreement with ExxonMobil regarding CCS/Carbon Capture Utilization Storage (CCUS) in the PHE Offshore South East Sumatra (OSES) work area.
The inauguration of these two collaborations took place at the Indonesia Petroleum Association Conference and Exhibition (IPA Convex) 2024 in Tangerang, Banten, on May 15.
Source: www.antaranews.com