Carbon Capture Utilization and Storage (CCUS) was unfamiliar in Indonesia before 2012. Since then, twofold efforts have been made to advance CCUS technology among oil and gas industries in the country; as part of climate change mitigation in the contribution for carbon emissions reduction commitment, as well as bringing economic benefits to the nation. However, there are still uncertainties that need to be disentangled and risks that need to be reduced or prevented to convince all stakeholders' support. The paper provides risk analysis for the stages of CCUS in Gundih Field, Indonesia using risk matrix that show towards positive implications in overcoming challenges of technological advancement in the realm of climate change mitigation, global warming and carbon emissions, and economic advantages as the first CCUS project implementation in the Southeast Asia Region.