Pertamina-ExxonMobil and the South Korean oil and gas company, namely the Korea National Oil Corporation (KNOC), have just signed a Framework Agreement. Especially for the development of the Carbon Capture Storage (CCS) Hub project in the western part of the Java Sea, the Asri Basin and the Sunda Basin. The signing of the collaboration between the three big companies took place on the sidelines of the IPA Convention & Exhibition at the Indonesia Convention Exhibition (ICE) BSD City, Wednesday (15/5/2024).
Deputy for Maritime Sovereignty and Energy Coordination at the Coordinating Ministry for Maritime Affairs and Fisheries, Jodi Mahardi, explained that the form of cooperation between the three companies is still limited to studies related to the size of CCS capacity in the Asri Basin and Sunda Basin.
Pertamina-ExxonMobil and the South Korean oil and gas company, namely the Korea National Oil Corporation (KNOC), have just signed a Framework Agreement. Especially for the development of the Carbon Capture Storage (CCS) Hub project in the western part of the Java Sea, the Asri Basin and the Sunda Basin.
The signing of the collaboration between the three big companies took place on the sidelines of the IPA Convention & Exhibition at the Indonesia Convention Exhibition (ICE) BSD City, Wednesday (15/5/2024).
Deputy for Maritime Sovereignty and Energy Coordination at the Coordinating Ministry for Maritime Affairs and Fisheries, Jodi Mahardi, explained that the form of cooperation between the three companies is still limited to studies related to the size of CCS capacity in the Asri Basin and Sunda Basin.
“We are still studying Pertamina with KNOC first, and then with ExxonMobil to study the capacity that can be deposited in Sunda Asri and plans for later infrastructure development,” he said when met after the signing.
Separately, the President Director of PT Pertamina (Persero) Nicke Widyawati explained that each company would have a role in this cooperation project. For example, Pertamina is a provider of carbon storage in reservoirs. Meanwhile, KNOC itself will act as a CCS storage consumer owned by Pertamina. Then Exxon itself acts as the technology owner.
“We offer a service concept starting from co2 capturing then transporting and injection. Because we have the concession in the block, but this requires permission from the government because there is a separate permit,” said Nicke.
Apart from Nicke and Jodi, those present at the signing included Director of ExxonMobil Cepu Ltd Carole J. Gall and President Director of KNOC Dong Sub Kim. Previously, Pertamina and ExxonMobil had also worked together to develop Carbon Capture Storage (CCS) in the Java Sea. With an investment value of more than US$ 2 billion, CCS has a capacity of up to 3 giga tonnes of CO2. The collaboration between the two was formalized through the signing of an Amendment to the Principles of Agreement as a continuation of the agreement produced at the G20 event last November 2022.
In this agreement, Pertamina and ExxonMobil agreed to continue their collaboration to evaluate the CCS Hub in the western part of the Java Sea, namely the Asri Basin and the Sunda Basin. The CCS Hub at this location is expected to offer significant volumes of geological storage, capable of capturing and injecting CO2 from domestic and regional industry.’
May 15, 2024, detikFinance
(https://www.cnbcindonesia.com/news/20240515115830-4-538251/pertamina-exxonmobil-knoc-jajaki-kerja-sama-pengembangan-ccs)