Mubadala Energy partners with Pertamina to explore CCUS
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Mubadala Energy partners with Pertamina to explore CCUS

Mubadala Energy partners with Pertamina to explore CCUS

The deal facilitates knowledge sharing between the two entities while exploring potential joint investments in upstream projects

Mubadala Energy, Pertamina to explore CCS

Mubadala Energy has signed an agreement with Indonesia’s state energy company PT Pertamina to study and explore potential developments of carbon capture, utilisation and storage (CCUS) facilities in the country.

The partnership will see the two entities cooperate to conduct joint studies and, potentially, business development activities in this strategic area of carbon mitigation, Mubadala Energy said in a statement.

The deal 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.

Similarly, the MoU will facilitate knowledge sharing between both parties while exploring potential joint investments in upstream projects that may seek to utilise CCUS applications.

“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,” Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, said, adding that the deal paves the way for the two companies to harness their collective expertise to accelerate the deployment of potential CCUS technologies.

“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,” added Al Hamed.

Mubadala advances Indonesia’s energy sector

Mubadala Energy has been present in Indonesia since 2004, with four operated Production Sharing Contracts (PSC), including the Sebuku PSC, which contains the Ruby gas field and the Andaman I and South Andaman Gross Split PSCs.

The portfolio makes the company the largest net acreage holder in the area, securing the core of the North Sumatra basin for future exploration growth with the potential to unlock a new material gas play.

Mubadala Energy announced a new gas discovery at the Timpan-1 exploration well located 150 kilometres offshore North Sumatra, Indonesia, where a 390-foot gas column in high net to gross fine-grained sandstone reservoir was confirmed.

Earlier in July, Abu Dhabi-based firm Mubadala Energy signed an agreement with Masdar to explore and potentially engage in opportunities relating to decarbonisation and energy transition initiatives. With a portfolio spanning 11 countries in Southeast Asia and investments across the Middle East, North Africa and South Asia, Mubadala Energy is actively pursuing growth opportunities while supporting the energy transition.

Pertamina also signed agreements with Japan Petroleum Exploration, Japan Organization for Metals and Energy Security and POSCO International on the sidelines of an Indonesia Petroleum Association conference.

The state-owned energy firm said the companies may also cooperate in other low-carbon energy projects. Pertamina said Indonesia has the potential to store up to 400 giga tonnes of carbon dioxide in its depleted oil and gas reservoirs and saline formations.

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