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 🌍 World Approves UN Rules for Carbon Trading Between Nations at COP29 🧪 Henkel and Celanese Collaborate to Offer Adhesives Made From Captured CO2 Emissions 🌊 New Protocol for Car...
Inside This Issue 🌬️ Return and Verified Announce First 100% Wind-Powered Direct Air Capture Hub, Designed To Scale to 500,000 Tons Annually 🌍 The Importance of Responsible Carbon Removal: Insight...
Inside This Issue 💰 OnStream Receives $26 Million in Federal Funding for Louisiana Offshore Carbon Storage Hub Development and Announces Joint Venture Partnership with Major Midstream Company 🌍 Ex...
Plug to Participate in the Jefferies Renewables & Clean Energy Conference 2024
SLINGERLANDS, N.Y., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, announced that it will be f...
ArcelorMittal Provides Update on Its European Decarbonization Plans
26 November 2024, 08:30 CET ArcelorMittal is today providing an update on its decarbonization plans in Europe. The Company has previously announced the intention to invest in lower carbon emissio...
LanzaTech Appoints TechnipFMC's Former Executive Chairman Thierry Pilenko to Board of Directors
Pilenko’s four decades of energy and infrastructure expertise adds operational leadership depth as LanzaTech continues global deployment and scaling of its carbon management solution CHICAGO, Nov....
Hydrogen: TotalEnergies Accelerates Decarbonization of its Platform at La Mède
TotalEnergies has joined forces with Air Liquide to produce renewable hydrogen at its La Mède platform in southeast France. This project aims to significantly reduce annual CO₂ emissions by 130,000...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.