Pertamina, ExxonMobil to develop CCS hub in Java Sea
Indonesian state oil and gas company Pertamina and US energy major ExxonMobil have agreed to collaborate on the development of a carbon capture and storage (CCS) hub in the Java Sea, Pertamina said on November 14. The project is expected to require an investment of over $2bn and could capture and store up to 3 gigatons of carbon dioxide.
The companies have signed an amendment to the principles of agreement, continuing the pact made at the G20 event last November 2022.
The agreement was signed by Pertamina president director Nicke Widyawati, Pertamina Hulu Energi president director Wiko Migantoro, and ExxonMobil Asia Pacific Low Carbon Solutions president Irtiza Sayyed. The signing took place in Washington DC on November 13.
The CCS hub will be located in the western part of the Java Sea, specifically in the Asri and Sunda Basin. The area is considered to be a promising location for CCS due to its geological formations, which are well-suited for storing carbon dioxide, Pertamina said.