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

Velesto Completes Removal of Wrecked Naga 7 Jack-Up Rig Off Malaysia

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

East Timor Eyes Chinese Partners for Stalled Greater Sunrise Gas Development

India Opts Out of Buying Gas from Russia's Sanctioned Arctic LNG 2 Project

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

ADNOC Signs 15-Year LNG Supply Deal with Indian Oil

Shelf Drilling Sells Baltic Jack-Up Rig

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

Current News

Velesto Completes Removal of Wrecked Naga 7 Jack-Up Rig Off Malaysia

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

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

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