U.S. President Joe Biden on Monday announced a number of investments in Indonesia spanning areas like climate and food security, including a $2.5 billion agreement between ExxonMobil and state-owned energy company Pertamina on carbon capture.
ExxonMobil and Pertamina's agreement will further assess development of a regional carbon capture and sequestration hub in Indonesia, the White House said in a statement.
A joint study by Pertamina and Exxonmobil had found a potential carbon storage capacity of 1 billion tonnes in Pertamina's oil and gas fields, which could permanently store Indonesia's emissions for the next 16 years, Pertamina said in a separate statement on Sunday.
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