Indonesian state oil company Pertamina [PGEO:IJ] has signed a data-sharing agreement with US oil producer Chevron [CVX:US] to extend their collaborations on carbon capture and storage (CCS) and carbon capture, utilization, and storage (CCUS), as reported by Reuters on November 14. Under the agreement, Pertamina will share information with Chevron on potential locations where they could develop CCS or CCUS projects. Such information may include geological and geophysical data, maps, and commercial information. According to Pertamina, this data sharing aims at developing a carbon capture facility in East Kalimantan, Indonesia. Earlier this year, Pertamina and Chevron launched a joint study to examine the feasibility of CCS and CCUS projects in the same region.
Indonesia views CCS and CCUS as key tools in its decarbonization and energy transition course, as the country still largely relying on fossil fuels. The country looks to utilize its depleted hydrocarbon reservoirs as storage facilities for greenhouse gases. A collaborative study between Pertamina and ExxonMobil [XOM:US] revealed that Pertamina’s oil fields have the potential to store 1 billion tons of carbon dioxide (CO2), which is deemed sufficient to permanently store the CO2 emissions generated by Indonesia for the next 16 years. Meanwhile, the Indonesian government is finalizing a regulation that opens up CCS schemes to more industries and permits the storage of greenhouse gases from foreign sources within the country. The planned regulation aims to capitalize on Indonesia’s vast carbon storage capacity, positioning the country as a carbon storage hub.