ExxonMobil and Pertamina Ink Indonesian Carbon Capture and Storage Deal

ExxonMobil and Pertamina, the state-owned energy company for Indonesia, have signed a Heads of Agreement to further progress their previously announced regional carbon capture and storage hub for domestic and international CO2.

The Heads of Agreement builds upon a joint study and memorandum of understanding that was signed at COP26 in Glasgow, Scotland to assess carbon capture and storage technologies, low-carbon hydrogen, and geologic data.

The agreement defines the next steps for the project including concept-select, pre-Front End Engineering Design, and a subsurface work program.

“This agreement supports Indonesia’s net-zero ambition and its goal to become a carbon capture and storage leader in the region,” said Dan Ammann, president, of ExxonMobil Low Carbon Solutions.

“By providing a large-scale storage solution for hard-to-decarbonise sectors, our companies will support Indonesia’s growing economy through low-carbon investments, creating job opportunities and adding revenues for the country.”

ExxonMobil Low Carbon Solutions is working to bring lower-emission technologies to market, making them accessible to hard-to-decarbonize industries.

Carbon capture and storage is a safe, proven technology that can enable some of the highest-emitting sectors to meaningfully reduce their emissions. These industries include manufacturing, power generation, refining, petrochemical, steel, and cement operations.

Once captured, the CO2 is injected into deep, underground geologic formations for safe, secure, and permanent storage.