Biden Unveils Investments in Indonesia Carbon Capture, Transport

Reuters
Monday, November 14, 2022

 U.S. President Joe Biden on Monday announced a number of investments in Indonesia spanning areas like climate and food security, including a $2.5 billion agreement between ExxonMobil and state-owned energy company Pertamina on carbon capture.

ExxonMobil and Pertamina's agreement will further assess development of a regional carbon capture and sequestration hub in Indonesia, the White House said in a statement.

The partnership "will enable key industry sectors to decarbonise" the statement said, citing the refining, chemicals, cement, and steel sectors. It said this would lower carbon emissions, ensure economic opportunities for Indonesian workers and help Indonesia achieve its net-zero ambitions in 2060 or sooner.

A joint study by Pertamina and Exxonmobil had found a potential carbon storage capacity of 1 billion tonnes in Pertamina's oil and gas fields, which could permanently store Indonesia's emissions for the next 16 years, Pertamina said in a separate statement on Sunday.

Biden is visiting Indonesia to take part in a G20 summit this week in Bali and announced the investments in a meeting with Indonesian President Joko Widodo, where he described the Southeast Asian country as a "critical partner".

The U.S. president also said the two countries would  collaborate to "protect our people" from COVID-19.

The United States and Indonesia also agreed to launch a $698 million Millennium Challenge Corporation (MCC) compact to help  support development of climate-conscious transportation infrastructure in five Indonesian provinces and 'other development goals', the White House statement said.

The funds include $649 million from the United States and $49 million from Indonesia.


(Reuters - Reporting by Nandita Bose/Writng by Ed DaviesEditing by Kanupriya Kapoor)

Categories: Energy Industry News Activity Decarbonization Carbon Capture CCS Carbon Capture And Storage

Related Stories

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Yinson Production Nets DNV Approval for New FPSO Hull Design

Petronas to Leverage AI to Expedite Oil and Gas Exploration Activities

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com