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

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Wood JV Gets EPC Job for Shell off Brunei

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

CNOOC Starts Production at Offshore Field in South China Sea

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

Current News

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

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