JAKARTA - PT Pertamina Hulu Energi (PHE) has signed two Memoranda of Understanding or Memorandum of Understanding (MoU) with leading global energy and industrial companies, the first MoU between PHE and SK Group (SK Innovation, SK Earthon) and was signed at the Indonesia-Korea Business Forum in Seoul, South Korea, on Wednesday, April 1. On the same occasion, a cooperation MoU was also signed between PHE and POSCO International.
PHE Risk Management Director, Whisnu Bahriansyah, explained that this strategic cooperation is part of PHE's efforts to strengthen the upstream oil and gas business portfolio, expand technological collaboration, and encourage the development of decarbonization solutions, including Carbon Capture and Storage (CCS) as part of the energy transition agenda.
PHE Risk Management Director, Whisnu Bahriansyah, said that collaboration with global partners is a strategic step to strengthen the company's competitiveness as well as accelerate the transformation towards a world-class energy company.
"This cooperation is part of PHE's strategy to strengthen technical capabilities, open up opportunities for inorganic growth, and accelerate the development of low-carbon technology through collaboration with world-class partners. Global partnerships are key to strengthening PHE's position in the international energy industry while creating sustainable long-term value," said Whisnu, quoted Saturday, April 4.
In cooperation with SK Group and ExxonMobil, he continued, PHE is exploring the potential for collaboration in the upstream oil and gas sector, including asset development, operational performance improvement, and opportunities for the development of energy technologies that can add value to energy security and business sustainability. company.
This cooperation also includes exploring cross-border CCS development opportunities between Indonesia and South Korea, including the potential for the development of a regional CCS value chain that utilizes Indonesia's carbon storage capacity and the need for decarbonization of the industrial sector in South Korea.
PHE assesses that cross-country CCS collaboration has strategic value in supporting global emission reduction targets while opening up opportunities for Indonesia to become one of the centers for CCS development in the region.
Meanwhile, through cooperation with POSCO International, PHE is expanding the scope of collaboration which includes identifying upstream business opportunities, developing domestic and international oil and gas assets, as well as cooperation in technology development through knowledge sharing, joint studies, and technical and commercial studies of energy projects.
Cooperation with POSCO also includes exploring the development of CCS, including the potential development of a CCS Hub in Indonesia as part of efforts to support carbon emission reduction in the energy and industrial sectors.
As part of strengthening the partnership, PHE and POSCO International also agreed to extend the validity of the MoU until March 31, 2028 as a form of commitment to continue discussing the potential for further cooperation.
All of these MoUs are initial cooperation frameworks that will serve as the basis for further studies and discussions, and are not yet binding commercial investment commitments. However, this agreement reflects the common vision of the parties in promoting technological innovation, business development in the energy sector, and the implementation of sustainability principles.
"Through these various global strategic partnerships, PHE confirms its commitment to continue strengthening its role as a competitive upstream oil and gas company at the global level, while contributing to maintaining national energy security and supporting Indonesia's energy transition target," said Whisnu.
PHE Doc.
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