Pertamina Collaborates with SK Group, ExxonMobil, and Posco
PT Pertamina Hulu Energi signed Memoranda of Understanding (MoUs) with SK Group (SK Innovation and SK Earthon), ExxonMobil, and Posco International at the Indonesia-Korea Business Forum in Seoul, South Korea, on Wednesday, 1 April 2026. This collaboration aims to strengthen the upstream oil and gas business portfolio, expand technological partnerships, and promote the development of decarbonisation solutions, including Carbon Capture and Storage (CCS), as part of the energy transition agenda.
Director of Risk Management at PT Pertamina Hulu Energi, Whisnu Bahriansyah, stated that the collaboration is part of the company’s strategy to enhance competitiveness and accelerate transformation. “Strengthening technical capabilities, opening opportunities for inorganic growth, and accelerating the development of low-carbon technology through collaboration with world-class partners,” he said in a written statement on Friday, 3 April 2026.
In the collaboration with SK Group and ExxonMobil, Pertamina is exploring potential partnerships in the upstream oil and gas sector, including asset development, operational performance improvements, and opportunities for energy technology development that can add value to energy security and business sustainability.
The collaboration includes exploring opportunities for cross-border CCS development between Indonesia and South Korea, including the potential for a regional CCS value chain that utilises Indonesia’s carbon storage capacity and South Korea’s industrial sector decarbonisation needs.
Meanwhile, the collaboration with Posco International expands the scope to include identifying upstream business opportunities, developing domestic and international oil and gas assets, and technology development cooperation through knowledge sharing, joint studies, and technical and commercial project reviews.
The collaboration also includes exploring CCS development, including the potential for a CCS Hub in Indonesia as part of efforts to support carbon emission reductions in the energy and industrial sectors.
“Global partnerships are key to strengthening PHE’s position in the international energy industry while creating long-term sustainable value,” said Whisnu Bahriansyah.
Furthermore, Pertamina and Posco International have agreed to extend the MoU validity until 31 March 2028 as a commitment to continue discussions on potential collaborations to further stages. All MoUs serve as initial frameworks for cooperation that will form the basis for further studies and discussions, and are not yet commercially binding investment commitments.
Pertamina, according to Whisnu, will continue to invest in managing upstream oil and gas operations and businesses in accordance with Environmental, Social, and Governance (ESG) principles. The company is also committed to Zero Tolerance on Bribery by ensuring fraud prevention and keeping the company free from bribery.
“One of them is through the implementation of the Anti-Bribery Management System (SMAP) which has been standardised to ISO 37001:2016,” he added.
The signing of the MoU between Pertamina and SK Group and ExxonMobil was conducted by Director of Risk Management at PT Pertamina Hulu Energi, Whisnu Bahriansyah, President of ExxonMobil Low Carbon Solutions Indonesia Ltd., Egon E Van Der Hoeven, President of SK Innovation Co., Ltd., Jong Soo Lee, and President & CEO of SK Earthon Co., Ltd., Seong Myeong.
The signing ceremony for the MoU between Pertamina and Posco International was conducted by Whisnu Bahriansyah and CEO of Posco International, Kye-In Lee. The signing of both MoUs was witnessed by President Director of PT Pertamina (Persero), Simon Aloysius Mantiri, and Vice President Director of PT Pertamina (Persero), Oki Muraza.