PGEO - PT. Pertamina Geothermal Energy Tbk

Rp 1.060

-60 (-5,00%)

JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO) announced its latest collaboration with Chevron New Energies International (Chevron) and Mubadala Energy, to explore geothermal potential in Kotamobagu, North Sulawesi.

PGEO together with Chevron and Mubadala Energy have signed a Joint Study Agreement (JSA). With this cooperation instrument, the three parties will conduct a joint study for the development of the Kotamobagu Geothermal Working Area (WKP).

Julfi Hadi, President Director of PGEO, said that the company welcomed this collaboration enthusiastically. "Our JSA this time aims to utilize the complementary strengths of the three parties in geothermal development in Kotamobagu," said Hadi, in an official statement.

Meanwhile Wahyu Budiarto, Country Manager of Chevron Indonesia, said this was the fifth collaboration carried out by Chevron and Pertamina. "We hope to bring technical expertise and new geothermal technology to this partnership in order to explore renewable energy sources," said Budiarto.

In line with Budiarto, Mubadala Energy considers this strategic partnership to be an important part of the growth of environmentally friendly energy in Indonesia. “The opportunity to explore these projects is part of Mubadala Energy's commitment to play an active role in the concomitant energy transition,” said Mansoor Mohamed Al Hamed, Chief Executive Officer of Mubadala Energy.

Please note, WKP Kotamobagu is assigned to PGE Kotamobagu as a subsidiary of PGEO. This work area has an area of ​​18,530 hectares. (KR/LM)