Abu Dhabi-based Mubadala Energy and Indonesian state-owned integrated energy company Pertamina, have signed 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 MOU will facilitate knowledge sharing between both parties while exploring potential joint investments in upstream projects that may seek to utilise CCUS applications.
Commenting on the collaboration, 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.”
He explained, “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. As the UAE prepares for COP28, we are proud to be driving a strategic collaboration that aligns with the Net Zero ambitions of both countries.”
Agreeing with him Nicke Widyawati, CEO of Pertamina, said, “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 decarbonisation goals and securing Indonesia’s energy requirements while supporting the country’s 2060 Net Zero goals.”
Mubadala Energy has been present in Indonesia since 2004, with four operated Production Sharing Contracts (PSC), including the Sebuku PSC containing the award-winning Ruby gas field and the Andaman I and South Andaman Gross Split PSCs.