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Indonesia, ExxonMobil sign agreement on CCS, petrochemical projects
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A logo of the Exxon Mobil Corp is seen on Sept. 24, 2018, at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil. (Reuters/Sergio Moraes)
T
he government, along with state-owned oil and gas corporation Pertamina, inked two agreements with United States oil and gas giant ExxonMobil pertaining to advancing the progress on carbon capture storage (CCS) projects and exploring a potential petrochemical complex in Indonesia.
The agreements were signed on the sidelines of a bilateral meeting between US President Joe Biden and President Joko “Jokowi” Widodo in Washington, DC, on Monday.
The cooperation between Indonesia and ExxonMobil would involve an investment of up to US$15 billion to boost industrial growth and promote decarbonization in Indonesia and the region, according to a statement from the White House.
Pertamina and ExxonMobil will continue an evaluation of a CCS project in the Northwest Java Sea, which kicked off late last year. The project is estimated to be capable of holding at least three billion tonnes of carbon dioxide.
Read also: Joe Biden unveils investments in Indonesia carbon capture, transport
Pertamina president director Nicke Widyawati and ExxonMobil Asia Pacific president of low carbon solutions Irtiza Sayyed represented the two sides in the agreement.
Meanwhile, the government and ExxonMobil signed an agreement to explore the development of a petrochemical complex in Indonesia, according to a statement from the Office of the Coordinating Maritime Affairs and Investment Minister on Tuesday.
