bp and its partners have approved a $7bn investment in the Tangguh Ubadari CCUS Compression (UCC) project, set to unlock an estimated three trillion cubic feet of additional gas resources in Papua Barat, Indonesia.
This project, a first for the country, features large-scale carbon capture, utilisation and storage (CCUS) technology aimed at sequestering around 15 million tonnes of CO2 in its initial phase.
The decision was announced by bp CEO Murray Auchincloss during a meeting in London with Indonesian President H.E. Prabowo Subianto. Auchincloss emphasised bp’s confidence in Indonesia’s investment environment, stating, “This project not only unlocks a fantastic gas resource, it also represents an Indonesian first through the use of CCUS to maximise gas recovery.”
“bp has operated in Indonesia for more than fifty-five years, and the strength of our relationships enables us to bring deep technical experience in helping to deliver this innovative development.”
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