JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO) and PT Jasa Daya Chevron (Chevron) have formed a local joint venture to develop Way Ratai Geothermal Work Area (GWA). This consortium is expected to discover new geothermal source, which will be further processed to generate green electricity. 

Julfi Hadi, President Director of Pertamina Geothermal Energy, said that this new entity will be the official license holder of geothermal in work area and will hold several activities in exploration phase, including survey and explorative drilling. This consortium follows the decision of Minister of Energy and Mineral Resources dated June 12, 2023, as stated by Hadi in the official release yesterday (3/10).

This consortium will also explore the utilisation of geothermal sources that could potentially become a green hydrogen or green ammonia production centre in western Indonesia, ensuring supplies for both domestic and export market.

PGEO and Chevron Geothernamal offer exploration commitment worth up to USD 28.85 million or equal to approximately IDR 431.01 billion. This offer refers to the agreement of exploration value that ranges from USD 7.59 to USD 9.87 per kWh. Way Ratai GWA is targeted to reach its Commercial On Date (COD) status in 2033. (AM/ZH)