"This project carries significant strategic value, with an estimated investment of US$10 billion. We hope it will have a substantial impact on Indonesia's development across multiple sectors," Coordinating Minister for Economic Affairs Airlangga Hartarto stated on Thursday.
He expressed optimism that the development of CCS technology could reduce carbon dioxide (CO2) emissions by 90 percent.
According to the minister, this collaboration is one of the efforts to support the government's downstream program, encourage job creation, and strengthen Indonesia's commitment to sustainability.
Hartarto emphasized that the US oil and gas giant is committed to providing training for Indonesian workers to help them meet global competency standards.
The minister is optimistic that this petrochemical and CCS technology development project could soon reach its groundbreaking phase.
He remarked that this project is also expected to be the first CCS project to operate.
"We hope this project will generate a multiplier effect for local business growth through strategic partnerships," he remarked.
The minister further noted that the MoU would lay the groundwork for establishing a stronger cooperation framework, including the formation of a Joint Task Force to coordinate strategic actions for the project’s realization.
Hartarto affirmed that the cooperation aligns with the government’s goal of fostering a business-friendly and competitive investment climate.
"ExxonMobil has been operating in Indonesia for quite a long time. They are familiar with this country. They have extensive experience in the oil and gas sector. I express my gratitude and congratulate them. Hopefully, we can develop this project quickly," he added.
The MoU signing was carried out by the Deputy for Energy and Mineral Resources Coordination at the Coordinating Ministry for Economic Affairs, Elen Setiadi, and Vice President of ExxonMobil Chemical International Major Growth Ventures, Zoe Barinaga, in Jakarta on Wednesday (January 22).
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Translator: Uyu Septiyati L, Resinta Sulistiyandari
Editor: Primayanti
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