Japan Petroleum Exploration (JAPEX) signed a memorandum of understanding (MOU) with SKK Migas (Special Task Force for Upstream Oil and Gas Business Activities, established by the Government of the Republic of Indonesia) on September 21, 2023, regarding joint collaboration toward development and implementation of CCS (Carbon dioxide Capture and Storage)/CCUS (Carbon dioxide Capture, Utilization, and Storage) hub and clusters in Indonesia.

The Government of Indonesia has formulated and unveiled its targets to reduce greenhouse gas (GHG) emissions by 43.2% by 2030 and to achieve net-zero CO2 emissions by 2060, in light of the accelerating requirement for energy transition associated with the global trend towards decarbonization. To achieve these targets, SKK Migas, the governmental organization that supervises upstream oil and gas operations in Indonesia, is expected to play a leading role in GHG reduction as well as in expanding oil and gas production for sustainable economic growth.

Based on the MOU, with a view to launching future CCUS projects by utilizing CO2-EOR (Enhanced Oil Recovery) method and establishing the CCS/CCUS hubs and clusters in Indonesia that can accept CO2 from other countries including Japan, SKK Migas and JAPEX will share their respective information and support each other in technical and business aspects. Furthermore, JAPEX will discuss and coordinate with related parties on required institutional designs and formulation of outreach activity*4 plans, in cooperation with SKK Migas.

Through solving social problems and realizing businesses towards carbon-neutrality in Japan and abroad, JAPEX will continue to aim for growth and further enhancement of corporate value as a "Comprehensive Energy Company", which supplies a variety of energy sources that meet the needs of the era.