new collaboration to explore lower carbon in Indonesia

Chevron is joining with Indonesia’s largest state-owned energy company to collaborate on potential business opportunities that could help lower the carbon intensity in the area.

• Chevron and PT Pertamina recently signed a memorandum of understanding. They will look for opportunities in geothermal energy, hydrogen, nature-based offsets, and carbon capture, utilization and storage.

This joint effort could unlock possibilities for Indonesia to reach its target of net-zero emissions by 2060, and further our intention of accelerating lower carbon solutions.

“We are committed to working quickly, and collaboratively to identify specific opportunities to develop as pilots or actual projects,” said Srimonto Ghosh, general manager of emerging, Chevron New Energies.

What makes a project or pilot a viable contender for the organizations? A project needs to be competitive in helping them reach common business objectives, as well as lowering carbon intensity. If the opportunity is a pilot, it should show a clear pathway to higher returns and lower carbon.

Working together is key to moving quickly and efficiently on lower carbon solutions in the region. Ghosh again: “We are committed to a lower carbon future and have large aspirations in the Asia-Pacific region, which is a strategic geography. We’ll move together with our complementary strengths to deliver energy in a reliable, affordable and ever-cleaner way.

Chevron has a long history in Indonesia, having spent more than 90 years as a leading energy producer there. This MOU with Pertamina marks our continuation of almost 100 years of commitment to the development of Indonesia’s energy future, where we believe we can play an important role in helping lower the country’s carbon intensity.

For more information, read the full media release.