Pertamina and ExxonMobil Expand Carbon Storage Cooperation
Jakarta — PT Pertamina Hulu Energi (PHE) and ExxonMobil Low Carbon Solutions Indonesia Limited (EMLCSIL) have signed an Amended and Restated Heads of Agreement (HoA) to continue joint activities in the development and commercialisation of the Carbon Capture and Storage (CCS) Hub Asri Basin project in Indonesia.
The amendment was signed by PHE Chief Executive Awang Lazuardi and EMLCSIL President Egon E. Van Der Hoeven during the Indonesia Petroleum Association Convention and Exhibition (IPA Convex) 2026 at ICE BSD, Tangerang, on Thursday 21 May 2026.
The agreement is a continuation of the strategic collaboration between the two companies to develop large-scale carbon storage solutions to support decarbonisation of Indonesian industry and the wider regional area.
Under the HoA amendment, PHE and ExxonMobil will undertake joint activities to develop and commercialise the CCS Hub Asri Basin in accordance with the scope of work and arrangements agreed. The collaboration includes further technical studies, the development of a business model, and exploration of market potential to support commercial implementation of the project.
As part of PHE’s commitment to Indonesia’s Net Zero Emissions (NZE) target by 2060, and contributing to the national objective of reducing greenhouse gas emissions by 29% by 2030, PHE continues to develop low-carbon initiatives, including CCS, to help decarbonise hard-to-abate sectors.
CCS Hub Asri Basin is being developed as a strategic project to support large-scale carbon management and accelerate the transition to a low-carbon economy. Its strategic location near Indonesia’s main industrial centres enables the area to meet domestic and regional carbon storage needs.
With an estimated storage capacity of up to 2.9 gigatonnes of CO₂ and potential development of up to 30 million tonnes of CO₂ per year (MTPA), Asri Basin is projected to become one of the largest underground carbon storage opportunities in the Asia-Pacific region. The project is expected to play a pivotal role in industrial decarbonisation and to strengthen Indonesia’s position as a regional hub for carbon storage solutions.
Corporate Secretary Hermansyah Y. Nasroen said that strengthening the cooperation with ExxonMobil marks an important step in accelerating the realisation of Indonesia’s CCS ecosystem.
“Development of the CCS Hub Asri Basin forms part of PHE’s long‑term strategy to support the national energy transition through low‑carbon solutions. Together with ExxonMobil, we aim to build a solid foundation for the commercialisation of CCS in Indonesia, while also positioning Indonesia as a competitive carbon storage service hub in the Asia-Pacific region,” Hermansyah said in a press release on Friday 21 May 2026.
Geographically, Asri Basin has characteristics conducive to CCS development, including a saline aquifer with a thick, porous reservoir, supported by a reliable caprock for long-term storage. The area is located about 180 kilometres from Jakarta, covers an area of 848 square kilometres and has water depths of around 30–35 metres.
In addition, the project benefits from access to Pertamina Group’s port infrastructure and logistics networks, as well as potential synergies through project financing schemes and joint venture partnerships with international partners. High industrial activity in the surrounding area also creates potential for strong demand for CCS solutions in the future.
Through this collaboration, PHE reiterates its commitment to continue developing low‑carbon business innovations that not only support national decarbonisation agendas but also create new economic value for Indonesia through the sustainable development of the CCS industry.