SUMMARY

The agreement builds upon a joint study and MoU that was signed at COP26 in Glasgow to assess carbon capture and storage technologies, low-carbon hydrogen and geologic data.

By Shardul Sharma

ExxonMobil and Indonesia’s Pertamina have signed a heads of agreement at the G20 Summit in Bali to further progress their regional carbon capture and storage hub for domestic and international CO2, ExxonMobil said on November 12.

The 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 programme.

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

The Indonesian government is working to develop supportive CCS regulations and initiating discussions with other governments in the region.

“This milestone is a solid foundation for Indonesia to systematically work toward our net-zero target by 2060 or sooner,” said Indonesia’s coordinating minister for maritime and investment affairs Luhut B. Pandjaitan. “Indonesia is growing, and it is imperative for us to address our carbon footprints for our future generations.”