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

Marine Masters Secures Wellhead Platforms Installation Job Off India

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

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

Petronas Awards PSCs for Nine Fields and One Exploration Block off Malaysia

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

CNOOC Brings Bohai Sea Oil Field On Stream

Valeura Boosts Production at Jasmine Field with Five New Wells Now Onstream

Saipem Gets $1B Job at BP’s Indonesian Gas and CCUS Project

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

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Current News

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

EnerMech Names APAC Regional Chief

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Jadestone Submits Field Development Plan for Assets Off Vietnam

Woodside Inks Long-Term LNG Supply Deal with China Resources

CNOOC Starts Production at Two New Oil and Gas Projects

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

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