At the G20 Summit in Bali, ExxonMobil and Pertamina, Indonesia’s state-owned energy business, inked an agreement to advance its previously announced regional carbon capture (CCS) and storage center for domestic and international CO2.
The Heads of Agreement builds on a collaborative research and agreement of understanding to evaluate carbon capture and storage technologies, low-carbon hydrogen, and geologic data that were inked during COP26 in Glasgow, Scotland. The agreement outlines the project’s further steps, which include concept selection, preliminary front end engineering design, and a schedule for subsurface work.
Nicke Widyawati, president director and chief executive officer of Pertamina, and Irtiza Sayyed, vice president of ExxonMobil Low Carbon Solutions and head of ExxonMobil Indonesia, signed the agreement. H.E. Sung Y. Kim, U.S. Ambassador to the Republic of Indonesia, H.E. Luhut B. Pandjaitan, Coordinating Minister for Maritime and Investment Affairs of Indonesia, and Jack Williams, Senior Vice President of Exxon Mobil Corporation, all witnessed the signing.
“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 striving to create CCS policies that are helpful and is starting conversations with other regional governments. “This milestone is a solid foundation for Indonesia to systematically work toward our net-zero target by 2060 or sooner,” said H.E. Luhut B. Pandjaitan. “Indonesia is growing, and it is imperative for us to address our carbon footprints for our future generations.”
With its recent deal with a major international manufacturer of nitrogen and hydrogen products in Louisiana, the United States, ExxonMobil Low Carbon Solutions is seeking to commercialize lower-emission technologies and make them available to hard-to-decarbonize businesses. In order to prevent CO2 from industrial activity that would otherwise be discharged into the atmosphere from entering the atmosphere, it is concentrating its carbon capture and storage efforts on point-source emissions. After being caught, the CO2 is pumped into subterranean geologic formations for secure, long-term storage.
One of the most high-emitting industries may be able to lower its emissions significantly thanks to the safe, tried-and-true technology of carbon capture and storage. These industries include manufacturing, power generation, refining, petrochemical, steel, and cement operations. With effective government policies in place, broad deployment of commercial-scale carbon capture and storage projects could create a new industry, resulting in job creation and economic growth.
