Mubadala Energy, a global energy player, and Pertamina, Indonesia’s state-owned integrated energy firm, have joined forces. The collaboration focuses on energy transition initiatives, specifically exploring the potential of carbon capture, utilisation, and storage (CCUS) applications in Indonesia. The partnership aligns with Mubadala Energy’s mission to spearhead the energy transition and discover innovative energy solutions. The two companies plan to conduct collaborative studies and potentially develop business strategies in this key carbon reduction sector.
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This agreement outlines a strategy for exploring CCUS solutions within both Mubadala Energy and Pertamina’s existing asset portfolios in Indonesia. This plan will come to life through cooperative discussions and project assessments. The Memorandum of Understanding (MoU) will also promote knowledge exchange between the two parties. It will also examine potential joint investments in upstream projects that could benefit from CCUS applications. Since 2004, Mubadala Energy has been active in Indonesia with four operated Production Sharing Contracts (PSCs), including the award-winning Ruby gas field’s Sebuku PSC and the Andaman I and South Andaman Gross Split PSCs.
This portfolio makes the company the most extensive net acreage holder in the region, securing the core of the North Sumatra basin for future exploration growth with the potential to unlock a significant new gas play. In a recent development, Mubadala Energy disclosed a new gas discovery at the Timpan-1 exploration well, located 150 kilometres offshore North Sumatra, Indonesia. The finding confirmed a 390-foot gas column in a high net-to-gross, fine-grained sandstone reservoir.