News listings

energy-pedia climate change

Indonesia flagIndonesia

Central & SE Asia / Australasia >>> Indonesia

Indonesia: Chevron and Pertamina announce partnership on lower carbon opportunities


12 May 2022

Photo - see caption

Chevron, through its subsidiary Chevron New Ventures, and Indonesia’s Pertamina (Persero) have announced a partnership to explore potential lower carbon business opportunities in Indonesia.

Aimed at serving local and potentially regional customers, Chevron and Pertamina plan to consider novel geothermal technologies; carbon offsets through nature-based solutions; carbon capture, utilization, and storage (CCUS); as well as lower carbon hydrogen development, production, storage, and transport.

The partnership follows the signing of a Memorandum of Understanding (MoU) in Washington, DC, attended by Jay Pryor, Vice President, Corporate Business Development for Chevron, Nicke Widyawati, President Director & CEO of PT Pertamina (Persero), Luhut B. Pandjaitan, Coordinating Minister for Maritime and Investment Affairs of the Republic of Indonesia, and Bahlil Lahadalia, Minister of Investment/Head of BKPM.

'We are excited to build upon Chevron’s nearly 100-year history in Indonesia. This MoU demonstrates Chevron and Pertamina’s commitment to continue identifying lower carbon opportunities through collaboration and partnership between Chevron, national energy companies, and governments, all of which have a shared interest in advancing national energy transition,' said Jeff Gustavson, President of Chevron New Energies. 'Through our potential work in Indonesia, and the entire Asia Pacific region, we hope to provide affordable, reliable, ever-cleaner energy, and help the industries and customers who use our products advance their lower carbon goals.'

The partnership between Chevron and Pertamina is part of efforts from both companies to support the Government of Indonesia’s net zero emission target in 2060. Pertamina is committed to increasing its renewable energy mix from 9.2 percent in 2019 to 17.7 percent in 2030.

'Pertamina, as the largest state-owned energy company in Indonesia, remains committed to accelerating energy transition in accordance with the government's targets. This partnership is a strategic step for Pertamina and Chevron to complement each other’s strengths and develop lower carbon energy projects and solutions to promote energy independence and domestic energy security,' stated President Director & CEO of Pertamina Nicke Widyawati.

Indonesia, as the second largest country with geothermal installed capacity, has developed geothermal since 1974. Currently, Pertamina through its Subholding Power & NRE, has a total installed geothermal capacity of 1,877 MW originating from 13 geothermal work areas, of which 672 MW come from work areas that are operated independently and 1,205 are joint operation contracts (JOC). The independently operated work area with a total capacity of 672 MW includes Sibayak Area at 12 MW, Lumut Balai Area at 55 MW, Ulubelu Area at 220 MW, Kamojang Area at 235 MW, Karaha Area at 30 MW, and Lahendong Area at 120 MW.

In addition, Pertamina is also diversifying geothermal development; an ongoing green hydrogen pilot project, among others, is being developed in the Ulubelu Area with a production target of 100 kg per day and brines to power which is being developed in the Lahendong Area and has a potential capacity of 200 MW out of several other work areas.

Nicke added, in collaboration with various parties, Pertamina is also developing the implementation of Carbon Capture and Storage (CCS) and Carbon Capture, Utilization, and Storage (CCUS) as one of the company's strategies to reduce carbon emissions in two oil and gas fields namely Gundih and Sukowati. Pertamina is also reviewing the commercialization of the application of CCUS technology in the Sumatra region.

The Indonesian government currently has an energy transition roadmap as part of the Grand National Energy Strategy. In the roadmap, the use of renewable energy is targeted to reach 23% by 20251.

Meanwhile, the government has also acknowledged the importance of a collaborative approach to achieve lower carbon goals.

'Without a doubt, efforts to boost lower carbon energy projects cannot be done alone. In the future, we hope that world-class oil and gas companies, such as Pertamina and Chevron, can partner to further reduce carbon emissions and advance energy transition as mandated by the Government of Indonesia,' concluded Luhut B. Pandjaitan.

Original article link

Source: Chevron





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 305

Completed Deals

Completed Upstream Deals: 6280

Company Profiles

Current Company Profiles: 2823

Corporate Activity

Current Corporate Activity articles: 3887

Companies Looking

Current number of articles: 453

Company Sales

Current Company Sales articles:1533

Geostudies

Current Geostudies articles: 856

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Syntillica
Bayphase
KL Publishing
OPC
Borchwix
energy365
Government of South Australia
SLR Consulting logo
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com