POSCO and Pertamina Holds a Rig-to-CCS Workshop

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22- 23 January 2024 – POSCO International Corporation and Pertamina organized a Rigs-to-CCS  (R2CCS) workshop in Hotel Indonesia Kempinski, Jakarta, Indonesia. This workshop focused on discussing the potential collaboration on R2CCS rig reutilization method as a means to support decommissioning objectives in Indonesia, while also finding solutions to mitigate carbon emissions from related industries.

During this workshop, POSCO International shared their interests to achieve the POSCO group net-zero target, and developing CCS business models in countries with supportive policies. Particularly, POSCO shares their interests in building a CCS hub offshore Java Island, where a value chain can be developed during the process.

Pertamina also emphasized that strong collaboration from its sub-holdings is very important to build a strong carbon supply chain from capture, transport, and injection.

KIORCC also took the opportunity to present rig reutilization project potential in Rig-to-LNG, Rig-to-CCS, and Rig-to-Fish Farm. This presentation underlined the interests of the Korean government and industry to invest and support a new era of decommissioning and rig reutilization in Indonesia, upon further data provision and feasibility studies.

Other technical discussions were also held between POSCO, Pertamina Technology and Innovations (Pertamina T&I), Perusahaan Gas Negara (PGN), Pertamina Hulu Energi (PHE), and Pertamina International Shipping (PIS) on implementation methods and plans of R2CCS on Pertamina’s platforms, along with the business scheme model.

Following the trends of net-zero commitments by governments and businesses, CCS has become an up-and-coming industry in Indonesia. However, growth and project implementation are currently stagnant as Indonesia still lacks concrete and precise regulations to support players of the industry. Additionally, as the field is still relatively novel, Indonesia still lacks expertise in the matter hence welcomes all sorts of related foreign investments and support.

The Indonesian government is currently in the works of publishing a Presidential Regulation to address some of the concerns CCS industry players have for investments. KIORCC is optimistic of the future CCS landscape in Indonesia, and will continue to support Korean-Indonesian collaborations in the matter.