JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO) has formed a joint venture (JV) with Chevron New Energies Holdings Indonesia Ltd to work on Geothermal Work Area (GWA) of Way Ratai, Lampung.

This JV is established under the name of PT Cahaya Anagata Energy (CAE) and is processing Geothermal License and other licenses, as stated by President Director of PGEO, Julfi Hadi. “We are optimistic that this collaboration will be a positive progressive step,” he added in the official statement.

“GWA of Way Ratai is strategic and is one of the best in Indonesia. Way Ratai also has a vital role as a hub in Sumatra, thus generating added value from geothermal by creating secondary product, especially green hydrogen,” he added.

Collaboration between PGEO and Chevron in GWA of Way Ratai had been announced in June. Both energy companies are included in one consortium, announced as the winner of the tender of GWA of Way Ratai held by the Ministry of Energy and Mineral Resources.

In this joint venture establishment, Chevron controls 60% of CAE, while PGEO receives another 40%. (KR/ZH)