Mubadala Energy is in on Indonesia's geothermal potential: The UAE’s Mubadala Energy signed an agreement with Indonesia's Pertamina Geothermal Energy and US oil-giant Chevron to explore potential geothermal energy projects in Kotamobagu city in Indonesia’s North Sulawesi province, according to a statement. The joint study will look into the development of the Kotamobagu Geothermal Working Area. The Southeast Asian country aims to add 3.3 GW of installed geothermal capacity by 2030.

There’s already a geothermal plant underway in Kotamobagu: Pertamina Geothermal Energy is developing a 410 MW geothermal power project located in North Sulawesi. The project is expected to start commercial operations by 2025, according to Global Data.

REMEMBER- Pertamina is backed by Masdar: Masdar acquired an undisclosed stake in the geothermal unit of Pertamina back in February. The Indonesian geothermal firm controls 82% of Indonesia's installed geothermal energy capacity and manages 13 geothermal energy projects which generate 1.87 GW of electricity.

IN OTHER PERTAMINA NEWS- The company is supporting Chevron + Exxon’s carbon capture plans: Pertamina signed agreements with Chevron to share data it collected in the East Kalimantan province to help the oil company identify suitable locations for carbon capture and storage (CCS) projects, Reuters reports. The information to be shared will include geological and geophysical data, maps, and other relevant commercial guidance. It also updated its agreement terms with Exxon in order to move forward with evaluations on a potential 3 gigaton CCS project in the Java Sea, estimated to cost over USD 2 bn.

More CCS to come in Indonesia: Indonesia is in the process of finalizing regulations to incentivise the development of CCS schemes across industries, as well as allowing imported greenhouse gasses to be stored in the country’s carbon sinks.