PGEO Collaborates With Chevron And Mubadala Energy To Explor Geothermal Opportunities In Kotamobagu

Illustration of geothermal (photo: Doc Antara)

JAKARTA - PT Pertamina Geothermal Energy Tbk (PGEO) announced a partnership with Chevron New Energies International (Chevron) and Mubadala Energy to conduct Joint Study Agreement (JSA) to explore geothermal potential in Kotamobagu, North Sulawesi, Indonesia.

President Director of PT Pertamina Geothermal Energy Tbk, Julfi Hadi said that JSA aims to take advantage of the strengths and complementary experiences of the three companies, namely PGE as the largest geothermal capacity producer and holder in Indonesia, Chevron's broad ability as a multinational energy company that is committed to providing reliable and environmentally friendly energy, as well as Mubadala Energy's track record in providing reliable and efficient energy for Indonesia and commitment to play an active role in energy transitions as a leading international energy company.

The agreement provides a comprehensive framework for joint study of the development of the Kotamobagu Geothermal Working Area (WKP).

"This agreement is in line with the recent announcement of the Indonesian Government which targets an additional geothermal installed capacity of 3.3 gigawatts (GW) before the end of 2030. Geothermal electricity produced in Kotamobagu can provide environmentally friendly energy sources to supply domestic markets in Indonesia and has the potential to become electricity supply for low-carbon hydrogen or ammonia production," said Julfi, Tuesday, November 14.

Chevron Indonesia Country Manager, Wahyu Budiarto said this collaboration was Chevron's fifth collaboration with Pertamina.

"We are very enthusiastic about the joining of Mubadala Energy at the Kotamobagu WKP. We hope to bring new geothermal technical and technological expertise into this partnership in order to explore renewable energy sources to support Indonesia's energy transition targets," Wahyu continued.

Mansoor Mohamed Al Hamed, Chief Executive Officer of Mubadala Energy said this collaboration was an opportunity to explore these projects as part of Mubadala Energy's commitment to play an active role in the energy transition in line with efforts to continue to support Net Zero's targets in Indonesia.

Just so you know, WKP Kotamobagu was assigned to PGE Kotamobagu as a subsidiary of PT Pertamina Geothermal Energy Tbk. based on the Decree of the Minister of Energy and Mineral Resources 14.K/EK.01/MEM.E/2022 where WKP Kotamobagu is an area that has a high enthalpy value with a volcanic hydrothermal system located in North Sulawesi Province with an area of 18,530 Ha.