JAKARTA: British oil and gas producer BP and its partners said they would invest US$7 billion in a carbon capture project in Indonesia's easternmost region of Papua that is expected to start in 2028 and unlock 3 trillion cubic feet of additional gas resources.
The project, announced on Thursday as Indonesia's President Prabowo Subianto was visiting London, will use the existing Tangguh liquefied natural gas (LNG) facility in Papua Barat, BP said in a statement.