Mubadala Energy, the Abu Dhabi-based international energy company, and Pertamina, the Indonesian state-owned integrated energy company, have entered into an agreement to discuss, explore and potentially engage in energy transition initiatives, primarily focused on carbon capture, utilisation and storage (CCUS) applications in Indonesia

 

In line with Mubadala Energy’s commitment to play an active role in the energy transition and explore new energy solutions including CCUS, the partnership will see both companies cooperate to conduct joint studies and, potentially, business development activities in this strategic area of carbon mitigation.

 

The agreement provides a framework to explore CCUS solutions for Pertamina’s and Mubadala Energy’s existing portfolio of assets in Indonesia through collaborative discussions and evaluation of relevant projects.

 

In addition, this Memorandum of Understanding will facilitate knowledge sharing between both parties while exploring potential joint investments in upstream projects that may seek to utilize CCUS applications.

 

Mansoor Mohamed Al Hamed, CEO Mubadala Energy, said; “When we launched our new strategy last year, CCUS was an important pillar of our ambitions to further expand our business in low carbon solutions. I am therefore pleased to forge this exciting collaboration with Pertamina to explore CCUS opportunities, not least because we share a commitment to play a proactive role in supporting the energy transition through the decarbonisation of our operations."

 

He added: "With our track record as a responsible operator delivering reliable and safe operations, I believe we can harness both companies’ collective expertise to accelerate the deployment of potential CCUS technologies. And as the United Arab Emirates prepares for COP28, we are proud to be driving a strategic collaboration that aligns with the Net Zero ambitions of both the UAE and Indonesia.”

 

Nicke Widyawati, CEO, Pertamina, commented: “With over six decades of experience in the energy industry, Pertamina has been integral to Indonesia’s growth story. As the country continues to develop, the company is committed to decarbonization goals and securing Indonesia’s energy requirements while supporting the country’s 2060 net-zero goals.”-TradeArabia News Service