On November 14th, the Indonesian Ministry of Maritime and Investment Coordination issued a statement stating that Indonesia and ExxonMobil Chemical International Major Growth Venture Capital Co., Ltd. have agreed to explore the development of petrochemical integrated projects in Indonesia. Pertamina and ExxonMobil have signed a revised agreement to explore a carbon capture and storage (CCS) center in the northwest of the Java Sea. Indonesia's carbon sequestration capacity is expected to reach 400 billion tons.