Tangguh production-sharing contract partners, has announced a final investment decision (FID) for the $7bn Tangguh Ubadari carbon capture, utilisation and storage (CCUS) compression project (UCC). The initiative is set to unlock approximately three trillion cubic feet (tcf) of additional gas resources in Indonesia,

BP (NYSE:BP) and its partners announced a final investment decision Thursday on the $7B Tangguh natural gas project in Indonesia that will eventually use carbon capture, utilization and storage in the production process,

The British oil giant approved plans to expand the facility in the troubled Indonesian province of West Papua at a meeting with President Prabowo Subianto.

BP and partners said they would invest $7 billion in a carbon capture project and gas field development in Indonesia's easternmost Papua region that could unlock 3 trillion cubic feet of additional gas resources.