The signing will become the basis for the establishment of a new local business entity and the placement of commitment funds for the exploration project in a joint account managed by both parties.
Representatives of the companies emphasized that a strong legal and commercial foundation is critical for the planned geothermal project. “In recent months, the consortium has worked together with the Directorate General of New, Renewable Energy and Energy Conservation (EBTKE) of the Ministry of Energy and Mineral Resources in building a strong legal foundation and commercial framework that can be accepted by the consortium and the Indonesian government,” said PGE Director Julfi Hadi in a press release.
“Legal and commercial frameworks are very important in implementing various exploration programs to develop WKP in Way Ratai. Therefore, we hope that this collaboration will create geothermal resources that can produce environmentally friendly electricity in accordance with the national electricity plan,” added Chevron Indonesia Country Manager Wahyu Budiarto.
“Through this collaboration, Pertamina is showing its ability to work with global companies. Therefore, Pertamina is trying to become a more environmentally friendly company through the development of new, renewable energy,” further added PT Pertamina (Persero) Vice President Corporate Communication Fadjar Djoko Santoso
Wahyu also mentioned that the consortium will explore other value-adding applications of geothermal energy, such as the production of green hydrogen or ammonia either for domestic supply or export.
