Reducing Emissions, Pertamina - KNOC Explore Collaboration in Rig-to-CCS Development

Source Company Press Release
Company Pertamina
Tags Corporate: Overview/Strategy, Country: Indonesia, Segment: CCS/CCUS, Sustainability: ESG/CSR
Date January 10, 2024

Pertamina is exploring a collaboration for the Rig-to-CCS (Rig-to-Carbon Capture Storage) development with the  Korea National Oil Corporation (KNOC). Rig-to-CCS is a technological development initiative to repurpose decommissioned offshore oil and gas platforms into Carbon Capture Storage (CCS) facilities.

The collaboration for Rig-to-CCS development is being pursued through a Joint Study Agreement signing between the President Director of Pertamina, Nicke Widyawati, and the President & CEO of the Korea National Oil Corporation (KNOC), Mr. Dong Sub Kim, in Seoul, South Korea, on Wednesday, January 10, 2024.

Nicke Widyawati, the President Director of Pertamina, stated that the collaboration for Rig-to-CCS development represents Pertamina's commitment to reducing emissions and supporting the government's target to achieve Net Zero Emission (NZE) by 2060 or even sooner.

"I highly appreciate this collaboration. Apart from enriching Carbon Capture & Storage (CCS) studies, this collaboration also helps address Indonesia's challenges regarding Abandonment and Site Restoration (ASR) of offshore platforms," said Nicke.

According to Nicke, ASR poses a unique challenge due to the significant number of offshore oil and gas platforms that are no longer utilized after the cessation of gas production, having been operational for decades."

The cost of conventional ASR or decommissioning is extremely high, necessitating an alternative ASR solution, especially reutilization, in order to ensure the gradual and efficient implementation of ASR for these offshore platforms," Nicke added.

Oki Muraza, the Senior Vice President of Research and Technology Innovation of Pertamina, further mentioned that besides Rig-to-CCS, collaboration with KNOC could also expand into other Low Carbon Business sectors' development technologies.

"This collaboration could be extended to the development of Rig-to-Wind Farm, Rig-to-Fish-Farm (offshore aquaculture), and Rig-to-LNG Terminal to transport natural gas to locations where energy facilities are yet to be established," said Oki.

Fadjar Djoko Santoso, Vice President of Corporate Communication of Pertamina, highlighted Indonesia's substantial potential for CO2 storage capacity, positioning the country at the forefront of the green industry era.

"Indonesia is a pioneer in ASEAN in the application of CCS regulations and ranks first in Asia according to the Global CCS Institute. CCS development requires significant investment. Hence, global cooperation is necessary," Fadjar emphasized.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social, and Governance (ESG) implementation across all Pertamina's business lines and operations.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd