Pertamina and Exxon Mobil Advance $2 Billion Carbon Capture Project; Explore Petrochemical Investment

Indonesia's Coordinating Ministry for Maritime and Investment Affairs signs initial agreement with Exxon Mobil for potential polymer-producing petrochemical project.

Indonesia's state oil company Pertamina has amended an agreement with Exxon Mobil to proceed with their evaluation for a carbon capture storage project in the Java sea.
The carbon capture and storage facility planned by Pertamina and Exxon has a storage potential for 3 gigatons of carbon and is estimated to cost over $2 billion.
Indonesia's Coordinating Ministry for Maritime and Investment Affairs has signed an initial agreement with Exxon Mobil to explore potential investment in a petrochemical project in the country.
The potential petrochemical project is expected to produce polymer and may utilize the carbon storage facility that Exxon is currently reviewing with Pertamina.