PT Pertamina Geothermal Energy (PGEO) and PT Jasa Daya Chevron (Chevron) have officially inked a cooperation agreement aimed at advancing geothermal exploration activities in the Way Ratai region of Lampung, Indonesia. The consortium formed by these two energy giants was previously awarded the exploration block by Indonesia's Ministry of Energy and Mineral Resources (ESDM), setting the stage for a groundbreaking collaboration.
This milestone agreement paves the way for the establishment of a new local business entity and the allocation of commitment funds dedicated to the exploration project, with both parties jointly managing the funds. The importance of this legal and financial groundwork cannot be overstated, as it forms the bedrock upon which the ambitious geothermal project will be built.
PGE Director Julfi Hadi, representing PGEO, highlighted the meticulous efforts undertaken by the consortium to establish a robust legal foundation and a commercial framework that aligns with the interests of both the consortium and the Indonesian government. This dedication to ensuring a solid legal footing underscores the consortium's commitment to a successful geothermal endeavor.
Chevron Indonesia Country Manager Wahyu Budiarto echoed this sentiment, emphasizing the pivotal role played by legal and commercial frameworks in executing diverse exploration programs geared towards the development of the Working Area of Geothermal Utilization (WKP) in Way Ratai. The ultimate goal is to harness geothermal resources to generate eco-friendly electricity, aligning with Indonesia's national electricity plan.
PT Pertamina (Persero) Vice President Corporate Communication Fadjar Djoko Santoso added his perspective, noting that this collaboration serves as evidence of Pertamina's ability to collaborate with global industry leaders. He underscored Pertamina's commitment to becoming an environmentally conscious company by venturing into the realm of new and renewable energy sources.
Beyond electricity generation, Wahyu Budiarto hinted at the consortium's broader vision, which involves exploring additional applications of geothermal energy. These potential avenues include the production of green hydrogen and ammonia, both for domestic consumption and export, further solidifying the consortium's commitment to sustainable energy solutions.
