Official announcements from BP or partners and industry reports

BP and Partners Announce $7 Billion Investment in Papua Carbon Capture and Gas Field Project

Nov 22, 2024, 03:57 AM

BP and its partners have announced a $7 billion investment in a carbon capture project and gas field development in Indonesia's Papua region. The project is expected to unlock 3 trillion cubic feet of additional gas resources. This initiative is part of BP's broader strategy to enhance its natural gas capabilities in Southeast Asia, which is crucial for the region's energy transition. The investment comes amid disruptions at BP's Tangguh LNG project in Indonesia.