Published by Todd Bush on May 16, 2024
TANGERANG, Indonesia, May 15 (Reuters) - State energy firm Pertamina and U.S. major ExxonMobil plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.
>> In Other News: SAF Production in France: Haffner Energy Announces New Strategic Project
Indonesia, which estimates its depleted oil and gas reservoirs and saline aquifers could provide storage for hundreds of gigatonnes of CO2, this year allowed CCS operators to set aside 30% of their storage capacity for imported carbon.
During the Indonesia Petroleum Association's annual conference on Wednesday, Pertamina and ExxonMobil signed a deal for preliminary work to design a commercial model for the Asri Basin Project CCS hub.
"Pertamina Hulu Energi and ExxonMobil will carry out appraisal drilling in order to collect data which will later become a reference for the development of the hub," said Awang Lazuardi, chief executive of Pertamina Hulu Energi.
A preliminary joint study by Pertamina and Exxon found that the Asri basin, in Pertamina's Offshore South East Sumatra block, had the capacity to store up to 3 gigatonnes of carbon dioxide and would require investments of $2 billion.
The companies also signed a framework agreement with South Korea's KNOC allowing it to join the partnership and inject emissions into the facility, Nicke Widyawati, chief executive of Pertamina, told reporters on the sidelines of the conference.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💧 Vema Hydrogen Secures $13 Million to Produce Clean Hydrogen Below $1 per Kilogram 🏭 Air Liquide Could Pursue Just Two Out of Six Us Hydrogen Hubs After Trump Halts Funding 🪨 Sc...
Inside This Issue 🏭 Wood Operating Innovative Pilot Carbon Capture Plant in Wyoming 🌍 Tiktok and Two Drifters Secure Carbon Removal for Long-term Economic Gains 🌬️ Hydron Energy Receives Funding S...
Inside This Issue 🤝 Tech Titans and Energy Giants Join Forces to Transform Voluntary Carbon Markets 🌲 How Amazon Approaches Carbon Credits, a Key Tool in the Fight Against Climate Change 💰 Canada ...
Air Liquide Could Pursue Just Two Out of Six Us Hydrogen Hubs After Trump Halts Funding
Feb 21 (Reuters) – France's Air Liquide said on Friday that only two out of their six previously awarded hydrogen projects for the U.S. Department of Energy (DoE) might move forward after President...
Pall Corporation and MTR Carbon Capture Partner to Advance Carbon Capture Solutions
This collaboration is designed to help customers accelerate their decarbonization goals Integrates Pall’s advanced flue gas filtration and coalescer technology with MTR’s Polaris™ membrane system ...
Vast Reserves of Game-changing Clean Fuel May Be Hidden Under Mountain Ranges, Scientists Find
Large reserves of white hydrogen may exist within mountain ranges, according to a new study, raising hopes this clean-burning gas can be extracted and supercharge efforts to tackle the climate cris...
Scientists Discover Low-cost Way to Trap Carbon Using Common Rocks
The new process uses heat to transform common minerals into materials that permanently sequester atmospheric carbon dioxide. Stanford Chemists Develop Low-Cost Process for Permanent CO2 Removal S...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.