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| Tuesday, 15 November 2022, 14:00 HKT/SGT | |
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Source: PT Pertamina | |
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JAKARTA, Nov 15, 2022 - (ACN Newswire) - Pertamina and ExxonMobil have signed a cooperation agreement for developing carbon capture and storage (CCS) for cutting carbon emissions while supporting economic growth.
 | | Pertamina and ExxonMobil have signed a cooperation agreement for developing carbon capture and storage (CCS) as part of efforts to reduce carbon emissions while supporting economic growth. (ANTARA/Pertamina) |
"This collective agreement is a solid foundation for Indonesia to achieve Indonesia's net-zero target by 2060 or sooner," Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said on Monday.
The Indonesian government is working on developing regulations that support carbon capture and storage (CCS) and starting discussions with governments in other regions, he added.
Meanwhile, Pertamina's CEO and president director, Nicke Widyawati, said that the CCS development and decarbonization cooperation is in line with Pertamina's efforts to support the government's program to accelerate the energy transition and achieve the target of reducing emissions by 29 percent by 2030.
"The development of CCS technology is in line with Pertamina's commitment to implementing Environmental, Social, and Governance (ESG) in all lines of the company's business to encourage business sustainability in the future," she added.
The fastest way to ensure the transition to new renewable energy and decarbonization in Indonesia is through partnerships, she emphasized. This is to answer the three global challenges, namely technology, finance, and human capital, at once.
According to Widyawati, the application of CCS technology is expected to play an important role in reducing greenhouse gases in the atmosphere, which contribute to global warming, climate change, ocean acidification, and loss of biodiversity.
"The development of CCS technology has a double impact, in addition to reducing emissions while increasing national oil and gas production," she said.
A joint study conducted by Pertamina and ExxonMobil has succeeded in finding the potential for carbon dioxide (CO2) storage of up to 1 billion tons in Pertamina's oil and gas fields.
This large CO2 capacity can permanently store CO2 emissions across Indonesia at the current average for the next 16 years.
In total, Pertamina is working on six CCS/CCUS projects by selecting fields that can be used as CO2 injection sites.
The six potential sites are located in several offshore areas in Sumatra, Java, Kalimantan, and Sulawesi.
The discovery of the great potential of CO2 has become an opportunity for the development of the CCS business and decarbonization efforts in Indonesia.
Contact: Heppy Wulansari, Pjs. Vice President Corporate Communication, PT Pertamina (Persero)
Mobile: +62 811-296-949, Email: heppy@pertamina.com, URL: https://www.pertamina.com
Written by: Katriana, Editor: Fardah Assegaf (c) ANTARA 2022
Topic: Press release summary
Source: PT Pertamina
Sectors: Environment, ESG, Alternative Energy, ASEAN
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From the Asia Corporate News Network
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