Ecobiz.asia — PT Pertamina Hulu Energi (PHE) has signed two memoranda of understanding (MoUs) with global partners, including SK Group and ExxonMobil, as well as POSCO International Corporation, to explore cross-border carbon capture and storage (CCS) development.
The MoU with SK Group and ExxonMobil was signed by PHE Risk Management Director Whisnu Bahriansyah, ExxonMobil Low Carbon Solutions Indonesia President Egon E Van Der Hoeven, SK Innovation President Jong Soo Lee, and SK earthon President & CEO Seong Myeong.
A separate MoU with POSCO International was signed by Whisnu and POSCO International CEO Kye-In Lee, witnessed by Pertamina President Director Simon Aloysius Mantiri and Vice President Director Oki Muraza.
The agreements are part of PHE’s strategy to strengthen its upstream oil and gas portfolio, expand technology collaboration, and accelerate decarbonization initiatives, including CCS development.
Whisnu said the partnerships are expected to enhance competitiveness and support the company’s transformation into a world-class energy player.
“This collaboration opens opportunities to strengthen technical capabilities, drive inorganic growth, and accelerate low-carbon technology development through global partnerships,” he said after the signing at the Indonesia–Korea Business Forum in Seoul on April 1, 2026.
Under the cooperation with SK Group and ExxonMobil, PHE will explore upstream oil and gas opportunities, including asset development, operational performance improvement, and energy technology advancement. The collaboration also includes potential cross-border CCS development between Indonesia and South Korea, leveraging Indonesia’s carbon storage capacity and South Korea’s industrial decarbonization demand.
Meanwhile, the partnership with POSCO International will focus on identifying upstream business opportunities, developing domestic and international oil and gas assets, and advancing technology through knowledge sharing, joint studies, and technical and commercial assessments.
Both parties will also explore CCS development, including the potential establishment of a CCS hub in Indonesia. The MoU validity has been extended until March 31, 2028.
All agreements remain preliminary and non-binding, serving as a framework for further studies and discussions. ***
