Jakarta—ExxonMobil Indonesia announced a massive USD 15 billion investment plan on Tuesday, October 8, for the development of green petrochemical refineries and carbon capture and storage (CCS) facilities in six strategic locations in Indonesia.
The sites under consideration by ExxonMobil include Lampung, Cilegon, the North Coast of Java, Batam, Bintan, and Banyu Urip. According to information from an unnamed ruangenergi.com source,
ExxonMobil’s big step has received a positive response from the Indonesian government. In November 2023, in a meeting with ExxonMobil Corporation Chairman Darren Woods in San Francisco, President Joko Widodo expressed his appreciation for the investment plan, which focuses on green petrochemical refineries and CCS infrastructure development.
“I appreciate the cooperation plan for the construction of green petrochemical refineries and Carbon Capture Storage (CCS) with a value of up to USD 15 billion,” President Jokowi said.
He also expressed pride that the planned CCS facility will be the largest in Southeast Asia and that Exxon’s petrochemical complex will be one of the most advanced in the world. “I am pleased to hear that the CCS facility will be the largest in Southeast Asia, and Exxon’s petrochemical complex will be one of the most advanced in the world,” the President continued.
Minister of Foreign Affairs Retno Marsudi, who was also present at the meeting, explained that two main things became the focus of the talks: the development of a green petrochemical refinery that uses environmentally friendly technology and a CCS facility that is expected to capture and store carbon emissions on a large scale.
According to Retno, this investment proves that Indonesia is an attractive partner for ExxonMobil in its energy transition and emission reduction efforts. “President Jokowi also invited ExxonMobil to invest further in new and renewable energy and green infrastructure development, including in the nation’s capital,” she said.
In a further statement, ExxonMobil said that the green petrochemical and CCS technologies to be implemented aim to reduce carbon emissions from operations and support the Indonesian government’s target to reduce carbon emissions significantly.
ExxonMobil is optimistic that this investment will drive the advancement of green technology in Indonesia while providing long-term economic benefits to the targeted areas.
The company expect the project to have a positive impact not only on the environment but also in the form of employment opportunities and regional economic development. (Hartatik)
