AsianOil: Pertamina strikes CCS deals with US majors

Indonesia’s state-owned oil and gas producer Pertamina is pressing on in its talks with US majors ExxonMobil and Chevron on investments in carbon capture and storage (CCS) facilities – projects seen as vital for the Asian country to fulfil its climate ambitions. The deals were signed during a visit by Indonesian President Joko Widodo to Washington to meet with US counterpart Joe Biden.

Pertamina announced on November 14 that it had agreed to undertake further evaluations for $2bn in investments in CCS, using two subsea basins in the Java Sea to sequester the CO2. The CCS hub the pair are planning could store as much as 3 gigatonnes of CO2 that is emitted by industries in Indonesia and elsewhere in the Asia-Pacific region, Pertamina CEO Nicke Widyawati said in a statement. ExxonMobil’s senior vice president Jack Williams said the pair would aim together to reduce emissions and support economic growth in Indonesia.

Indonesia’s government said it was working to establish a CCS ecosystem. Both the country and Pertamina are aiming to achieve net-zero emissions by 2060. 

If you’d like to read more about the key events shaping Asia’s oil and gas sector then please click here for NewsBase’s AsianOil Monitor.