Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  

Mubadala Energy Partners with Pertamina Geothermal Energy and Chevron to Explore Geothermal Opportunities in Indonesia

 

Joint Study Agreement in line with Mubadala Energy’s strategy to play an active role in the energy transition by exploring investments in new energy sectors

14 November 2023 - PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) announced its cooperation with Chevron New Energies International (Chevron) and Mubadala Energy to embark on a Joint Study Agreement (JSA) to explore the geothermal potential in Kotamobagu, North Sulawesi, Indonesia. The JSA was signed during President Joko Widodo’s visit to the United States and witnessed by the Deputy Coordinating Minister for Maritime & Investment Affairs, Jodi Mahardi , Ambassador of The Republic of Indonesia for United States of America, Rosan Roeslani, President Director & CEO PT Pertamina (Persero), Nicke Widyawati and Country Manager Chevron Indonesia, Wahyu Budiarto.

The JSA aims to capitalize on the companies’ complementary strengths and experience. It will bring together PGE’s experience and scale as the largest geothermal producing company and capacity holder in Indonesia, Chevron’s expansive capabilities as a multinational energy company committed to providing reliable and cleaner energy, and Mubadala Energy’s track record in delivering reliable and efficient energy to Indonesia and commitment to playing an active role in the energy transition as an international energy leader. 

The agreement provides a comprehensive framework to conduct a joint study into developing the Kotamobagu Geothermal Working Area (WKP). The agreement is aligned with the Government of Indonesia’s recent announcements targeting the addition of 3.3 gigawatts (GW) of installed geothermal capacity by 2030. Geothermal electricity produced in Kotamobagu may provide clean energy source to feed the domestic market in Indonesia and potentially an input to produce low carbon hydrogen or ammonia. 

President Director of PT Pertamina Geothermal Energy Tbk, Julfi Hadi enthusiastically welcomed the JSA cooperation between PGE, Chevron, and Mubadala Energy, 'Our Joint Study Agreement this time aims to utilize the complementary strengths of the three parties in developing geothermal in Kotamobagu,' he said.

Wahyu Budiarto, Chevron Indonesia Country Manager said, 'This is Chevron’s fifth collaboration with Pertamina and we are excited about the addition of Mubadala Energy in the Kotamobagu WKP. We look forward to bringing into the partnership, Chevron’s technical expertise and new geothermal technologies to explore renewable energy resources to support Indonesia’s energy transition goals.'
Mansoor Mohamed Al Hamed, Chief Executive Officer of Mubadala Energy, commented; “With our track record of delivering strategic energy resources in Indonesia for over a decade, we are excited about this partnership with PGE and Chevron to explore the expansion of geothermal energy, an important segment of Indonesia’s clean energy growth ambitions. The opportunity to explore such projects is embedded in Mubadala Energy’s commitment to playing an active role in the energy transition as we continue to support Indonesia’s Net Zero targets.” 

WKP Kotamobagu was assigned to PGE Kotamobagu as a subsidiary of PT Pertamina Geothermal Energy Tbk. based on the Decree of the Minister of Energy and Mineral Resources 14.K/EK.01/MEM.E/2022 where WKP Kotamobagu is an area that has a high enthalpy value with a volcanic hydrothermal system located in North Sulawesi Province with an area of 18,530 Ha.


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 5888 times
PR Category : Energy and Industry
Posted on : Tuesday, November 14, 2023  12:33:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : ENEC and GE Hitachi Sign MoU for Potential Investment and De...
Next Story : Global Satellite Operators' Association Releases Code of Co...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Royal Jordanian flight touches down in ancient city of AlUla inaugurating new direct route [17958-Views]
IATA and The Weather Company Collaborate to Provide Enhanced Turbulence-Related Weather Da... [11541-Views]
STATEMENT BY PRINCIPALS OF THE INTER-AGENCY STANDING COMMITTEE - CIVILIANS IN GAZA IN EXTR... [11382-Views]
SEHA's Abu Dhabi Blood Bank Services Attains AABB Global Accreditation for Healthcare Exce... [6904-Views]
ZAYED AWARD FOR HUMAN FRATERNITY AND NEW YORK UNIVERSITY ABU DHABI SIGN MOU AHEAD OF LAUNC... [6654-Views]
Young UAE-based Climate Tech Angel Investors Favor African and MENA Regions For Growth Pot... [6220-Views]
Abu Dhabi Fund for Development takes center stage at World Government Summit as strategic ... [6056-Views]
TIMOTHÉE CHALAMET IN CARTIER AT THE DUNE II WORLD PREMIERE IN LONDON [5912-Views]
ROAD TO MUBADALA ABU DHABI OPEN FACILITATES GROWTH OF UAE TENNIS AND INSPIRES NEXT GENERAT... [5867-Views]
Guinea's Round Table of Donors in Dubai: A Testament to Global Confidence in Guinea's Deve... [5769-Views]
30 Years – 30 Days of Winning only at Meena Jewellers [5560-Views]
Scaling new heights with the S502 [5514-Views]
The Department of Energy Reviews 2023 Performance Results and Reports [5158-Views]
SKEA signs MoU with Sheikh Khalifa Government Excellence Program [5051-Views]
Landmark Group's Beat Diabetes Walk: A Milestone Event Supporting Dubai Social Agenda 33 [4957-Views]
Louis Vuitton Tops the Global Powers of Luxury Goods 2023 List by Deloitte; Malabar Gold &... [4776-Views]
GIIS 2024 (UAE): French Mediane Systeme to Host Exclusive Workshop on 5G for IoT Technolog... [4707-Views]
e& reports record consolidated net profit of AED 10.3 billion growing 3% year-over-year [4572-Views]
Ministry of Finance announces the issuance of a federal decree-law concerning federal prop... [4358-Views]
Gulfood to lead the way on where the F&B industry goes next, driving investment, competiti... [4321-Views]
Lithuania brings ‘You are what you EAT' approach to the Gulfood 2024 [4313-Views]
CARTIER ISLAMIC INSPIRATION AND MODERN DESIGN EXHIBITION AT LOUVRE ABU DHABI [4149-Views]
The American University of Beirut and Queen Rania Teacher Academy Partner to Strengthen th... [4100-Views]
Italy's Food and Beverage Exports to UAE Surge, Notching an 8.4% increase in 2023 [4075-Views]
Union Coop's 'Tamayaz' Program: 913,306 Customers and Growing [4051-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories