BP Greenlights $7B CCUS Scheme Tied to Indonesia LNG Facility

Friday, November 22, 2024

BP and its partners have reached a final investment decision for a $7 billion Tangguh Ubadari carbon capture, utilization and storage (CCUS) project, which has the potential to unlock around 3 trillion cubic feet of additional gas resources in Indonesia to help meet growing energy demand in Asia.

The project, which comprises the Ubadari gas field development, enhanced gas recovery through carbon CCUS and onshore compression, expands and utilizes existing infrastructure at the Tangguh LNG facility in Papua Barat, Indonesia.

Production at the Ubadari field is expected to start in 2028.

The project features Indonesia’s first at-scale enhanced gas recovery through CCUS, aiming to sequester around 15 million tonnes of CO2 in its initial phase and potentially more considering the large CO2 storage capacity of area.

The scheme represents the continued development of Tangguh, following the addition of the third LNG train which began operation in 2023 and brought total plant liquefaction capacity to 11.4 million tonnes per year.

“This project not only unlocks a fantastic gas resource, it also represents an Indonesian first through the use of CCUS to maximize gas recovery. bp has operated in Indonesia for more than 55 years, and the strength of our relationships enables us to bring deep technical experience in helping to deliver this innovative development. We deeply appreciate the continued support of the Government of Indonesia,” said Murray Auchincloss, CEO of BP.

BP is the operator of Tangguh LNG, acting on behalf of Tangguh Production Sharing Contract partners.

BP operates Tangguh with 40.22% participating interest, with partners MI Berau (16.30%) CNOOC Muturi (13.90%), Nippon Oil Exploration (Berau)  (12.23%), KG Berau Petroleum

Categories: LNG Industry News Activity Asia CCUS Oil and Gas

Related Stories

TotalEnergies Wraps Up Acquisition of SapuraOMV’s Gas Assets

Kuwaiti Oil and Gas Firm Exploring More Opportunities in Indonesia's Natuna Sea

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Eni Strengthens LNG Ties with Japan

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

Mitsubishi Boosts Stake in Petronas’ Malaysia LNG Plant

Joint Venture Partners Ink Commercial Deals to Develop Gas Reserves at Azerbaijan’s ACG Field

First Oil Starts Flowing at CNOOC’s South China Sea Field

Allseas Hooks $180M Pipeline Installation Job Offshore Philippines

Current News

The Five Trends Driving Offshore Oil & Gas in 2025

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Offshore Service Vessels: What’s in Store in 2025

ABS Approves Hanwha Ocean’s FPSO Design

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

Transocean’s Drillship to Stay in India Under New $111M Deal

INEOS Picks Up CNOOC’s US Assets in $2B Deal

Sunda Energy, Timor-Leste Gov Plan Accelerated Chuditch Gas Development

RINA to Conduct Pre-FEED Study for Petronas’ CCS Project in Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com