The transition to renewable energy is crucial to achieving decarbonization objectives. The successful deployment of Carbon Capture and Storage (CCS) and Carbon Capture, Utilization, and Storage (CCUS) technologies will be of utmost importance to achieve Net Zero Emissions. Hybrid CO2-EOR will present a more attractive alternative since the economic benefits of increased oil production offset the costs of CCS. This study proposes conceptual models of hybrid CO2-EOR and storage in East Kalimantan, Indonesia. Source-sink matching was performed from the emission source to oil field buffers within 50 km and 100 km. The results show that in East Kalimantan, CO2 emissions reached 9.5 gigatons (Gt) CO2e/year, whereas the total storage capacity of depleted oil fields is approximately 3.43 Gt CO2e/year. Hybrid storage and CO2-EOR can increase oil recovery by 1.29 billion barrels, with a total recoverable reserve of 5.36 billion barrels. According to source-sink matching and clustering, all emissions could sink to the surrounding depleted oil fields. This research implies that the prospect of CO2-EOR and hybrid storage in the East Kalimantan region is profoundly attractive. In addition, the findings provide valuable guidelines for policymakers in designing region-specific carbon management strategies that support economic incentives with emission reduction goals.