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

East Timor Eyes Chinese Partners for Stalled Greater Sunrise Gas Development

Eni Strengthens LNG Ties with Japan

Velesto Teams Up with SLB to Enhance Drilling Rig Capabilities

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

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

Mitsubishi Boosts Stake in Petronas’ Malaysia LNG Plant

TotalEnergies Signs LNG Supply Deal with South Korea’s HD Hyundai Chemical

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

Current News

China's CNOOC Aims for Record Oil and Gas Production in 2025

AIRCAT 35 Crewliner Vessels Delivered to Service TotalEnergies Angola

EnQuest to Acquire Harbour Energy's Vietnamese Assets

CNOOC Boosts Dongfang Gas Fields Output with New Platform Coming Online

Petronas to Retain National Authority After Sarawak Gas Deal

Yinson Production Scoops $1B Investment to Upscale FPSO Business

Petronas Greenlights Hidayah Field Development Off Indonesia

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

BP Targets 44% Oil, 89% Gas Increase from India’s Mumbai High Field

US Operator Finds Oil Offshore Vietnam

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