ExxonMobil and Pertamina to Evaluate Carbon Capture and Storage in Indonesia
02 November 2021 - 8:00PM
Business Wire
- Companies to identify potential subsurface CO2 storage
locations
- Agreement in place to examine feasibility of transporting CO2
in Southeast Asia
- Collaboration expected to include research and development
studies with universities
ExxonMobil and Pertamina, the state-owned energy company for
Indonesia, today signed a Memorandum of Understanding (MoU) to
evaluate the potential for large-scale deployment of low-carbon
technologies in Indonesia. The MoU was signed near Glasgow,
Scotland, where world leaders have gathered to discuss climate
policies during COP 26.
The companies have agreed to assess the potential for
technologies such as carbon capture, utilization and storage, and
low-carbon hydrogen. By jointly examining subsurface data, the
companies expect to identify geologic formations deep underground
that could be suitable to safely store CO2, and the potential for
safe, commercially viable utilization of CO2.
The MoU strengthens a decades-long strategic partnership between
ExxonMobil and Pertamina, and has the objective of advancing
Indonesia’s net-zero ambitions.
“We are evaluating large-scale carbon capture and storage
projects that have the potential to make the greatest impact in the
highest-emitting sectors around the world, and there are
opportunities in Indonesia and throughout Southeast Asia,” said Joe
Blommaert, president of ExxonMobil Low Carbon Solutions. “With
well-designed policies and industry collaboration, we can move
forward with reliable, safe and ready-to-deploy technologies at
scale that can help governments achieve game-changing emissions
reductions.”
ExxonMobil established its Low Carbon Solutions business to
commercialize low-emission technologies. It is initially focusing
its carbon capture and storage efforts on point-source emissions,
the process of capturing CO2 from industrial activity that would
otherwise be released into the atmosphere, and injecting it into
deep underground geologic formations for safe, secure and permanent
storage. The business is also pursuing strategic investments in
biofuels and hydrogen to bring those lower-emissions energy
technologies to scale for hard-to-decarbonize sectors of the global
economy.
ExxonMobil Low Carbon Solutions is evaluating several other
carbon capture and storage projects around the world, including in
Rotterdam, Netherlands; Normandy, France; LaBarge, Wyoming; and
Houston, Texas. The company has an equity share in approximately
one-fifth of global CO2 capture capacity and has captured
approximately 40 percent of all the captured anthropogenic CO2 in
the world.
The International Energy Agency projects that carbon capture and
storage could mitigate up to 15% of global emissions by 2040, and
the U.N. Intergovernmental Panel on Climate Change estimates global
decarbonization efforts could be twice as costly without its
wide-scale deployment.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. To learn more, visit exxonmobil.com, the
Energy Factor and Carbon capture and storage | ExxonMobil.
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Cautionary Statement: Statements of future events,
investment opportunities or conditions in this release are
forward-looking statements. Actual future results, including
project plans, timing, volumes, and costs; future reductions in
emissions and emissions intensity; development, deployment and
results of carbon capture and storage projects, as well as future
hydrogen and biofuel projects; and the impact of operational and
technology efforts could vary depending on the results of future
study and research efforts, including the ability to scale projects
and technologies on a commercially competitive basis; the
effectiveness of cooperative efforts to develop technologies and
projects; any changes in plans or objectives upon final project
approvals; the ability to execute operational objectives on a
timely and successful basis; the ability to obtain and timing of
required governmental and other third party consents; the
development and pace of supportive market conditions and national,
regional and local policies relating to carbon capture and other
emission reduction technologies; changes in laws and regulations
including laws and regulations regarding greenhouse gas emissions,
carbon costs, and taxes; the outcome of commercial negotiations;
trade patterns and the development and enforcement of local,
national and international mandates and treaties; unforeseen
technical or operational difficulties; changes in supply and demand
and other market factors affecting future prices of oil, gas, and
petrochemical products; and other factors discussed in this release
and under the heading “Factors Affecting Future Results” on the
Investors page of ExxonMobil’s website at exxonmobil.com.
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