PHE Strengthens Global Partnerships with SK Group, ExxonMobil, and POSCO to Drive...
PT Pertamina Hulu Energi (PHE) is strengthening its global expansion strategy and sustainable energy development through the signing of two Memorandums of Understanding (MoUs) with leading global energy and industrial companies. The first MoU between PHE and SK Group (SK Innovation, SK Earthon) and ExxonMobil was signed at the Indonesia–Korea Business Forum in Seoul, South Korea, on Wednesday (1/4/2026). At the same event, an MoU for cooperation between PHE and POSCO International was also signed.
The signing ceremony for the MoU between PHE, SK Group, and ExxonMobil was conducted by PHE’s Director of Risk Management, 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. Meanwhile, the signing of the MoU between PHE and POSCO International was carried out by PHE’s Director of Risk Management, Whisnu Bahriansyah, and CEO of POSCO International, Kye-In Lee. The signing of both MoUs was witnessed by the President Director of PT Pertamina (Persero), Simon Aloysius Mantiri, and the Vice President Director of PT Pertamina (Persero), Oki Muraza.
This strategic cooperation forms part of PHE’s efforts to strengthen its upstream oil and gas business portfolio, expand technology collaborations, and promote decarbonisation solutions, including Carbon Capture and Storage (CCS) as part of the energy transition agenda.
PHE’s Director of Risk Management, Whisnu Bahriansyah, stated that collaboration with global partners is a strategic step to enhance the company’s competitiveness while accelerating the transformation towards becoming a world-class energy company.
“This cooperation is part of PHE’s strategy to strengthen technical capabilities, open up inorganic growth opportunities, 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 long-term sustainable value,” said Whisnu.
In the cooperation with SK Group and ExxonMobil, PHE is exploring potential collaborations in the upstream oil and gas sector, including asset development, operational performance improvement, and opportunities for energy technology development that can add value to energy security and business sustainability.
This cooperation also includes exploring opportunities for cross-border CCS development between Indonesia and South Korea, including the potential for regional CCS value chain development that leverages Indonesia’s carbon storage capacity and South Korea’s decarbonisation needs in the industrial sector.
PHE views cross-country CCS collaboration as strategically valuable in supporting global emission reduction targets while opening opportunities for Indonesia to become one of the CCS development hubs in the region.
Meanwhile, through cooperation with POSCO International, PHE is expanding the scope of collaboration 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 in the energy sector.
The cooperation with POSCO also includes exploring CCS development, including the potential for developing a CCS Hub in Indonesia as part of efforts to support carbon emission reductions in the energy and industrial sectors.
As part of strengthening this partnership, PHE and POSCO International have also agreed to extend the MoU’s validity period until 31 March 2028 as a form of commitment to continue discussions on potential cooperation to further stages.
All these MoUs serve as initial frameworks for cooperation that will form the basis for further studies and discussions, and they are not yet binding commercial investment commitments. Nevertheless, these agreements reflect the shared vision of the parties in promoting technological innovation, energy business development, and the implementation of sustainability principles.
Through these various global strategic partnerships, PHE reaffirms its commitment to continue strengthening its role as a competitive upstream oil and gas company on a global level, while contributing to maintaining national energy security and supporting Indonesia’s energy transition targets.
PHE will continue to invest in the management of upstream oil and gas operations and business in accordance with Environmental, Social, and Governance (ESG) principles. PHE also maintains a Zero Tolerance on Bribery policy by ensuring fraud prevention and keeping the company free from bribery. One of the measures is the implementation of the Anti-Bribery Management System (SMAP), which has been standardised to ISO 37001:2016.