The Abu dhabi-based energy company signed an agreement with Pertamina to enhance carbon capture technology in the southeast Asian country
Mubadala said that it will discuss, explore and potentially engage in energy transition initiatives, primarily focused on carbon capture, utilisation and storage (CCUS) applications with the Indonesian state-owned integrated energy company.
The partnership will see the two companies work together to conduct joint studies and, potentially, business development activities in this strategic area of carbon mitigation, in keeping with Mubadala Energy's commitment to play a proactive role in the energy transition and explore new energy solutions, including CCUS.
The agreement offers a framework for exploring CCUS options for the current portfolio of assets owned by Pertamina and Mubadala Energy in Indonesia through joint talks and project appraisal. Additionally, this Memorandum of Understanding will make it easier for both parties to share information while looking into prospective collaborative investments in upstream projects that might make use of CCUS technologies.
Commenting on the signing, 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.
“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, added, “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.”