Violet George – In a significant move for Indonesia's energy sector, BP and its partners have committed a $7 billion investment to a groundbreaking project in Papua. This initiative combines the development of a new gas field, Ubadari, with cutting-edge carbon capture technology.
The announcement, made during a meeting with Indonesian President Prabowo Subianto in London, signifies a major boost to the country's gas resources.
The Ubadari field has the potential to unlock an additional 3 trillion cubic feet of natural gas, a valuable asset for meeting Asia's growing energy demands.
The project goes beyond simply extracting resources. It marks Indonesia's first foray into large-scale carbon capture, utilization, and storage (CCUS).
This innovative technology captures carbon dioxide emissions, preventing them from entering the atmosphere. In its initial phase, the project aims to sequester a substantial 15 million tonnes of CO2 emissions from the Tangguh liquefied natural gas facility in West Papua.
Captured CO2 will even be strategically utilized to enhance production at the Tangguh facility, demonstrating a resourceful approach to emissions reduction.
President Prabowo hailed the project as a testament to British companies' confidence in Indonesia's economic future.
He highlighted $8.5 billion in total investment from British firms across various sectors, including energy transition, education, infrastructure, and healthcare. This comprehensive collaboration underscores the potential for Indonesia's long-term development.
The Tangguh Production Sharing Contract, led by BP with a 40.2% stake, spearheads this project.
Partnering with BP are industry giants like China's CNOOC, Japan's Mitsubishi Corp, Inpex Corp, and Japan Oil, Gas and Metals National Corp. Having received approval from Indonesian authorities in 2021, the project is poised to make a significant impact on Indonesia's energy landscape in the coming years.
Source: https://carbonherald.com/bp-commits-7b-to-carbon-capture-project-in-papua-indonesia