BP Invests $7B in Indonesia Gas With First Carbon Capture Tech [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
resources and feature the country's first large-scale carbon capture, utilization, and storage technology. The project is expected to sequester 15 million tons of CO2 in its initial phase and production is set to begin in 2028. The investment aligns with BP's strategy to meet Asia's growing energy demand while advancing its low-carbon commitments. BP plc ( BP a leading UK-based energy company, and its partners in the Tangguh production sharing contract have announced the final investment decision for the $7 billion Tangguh Ubadari CCUS Compression (“UCC”) project in Papua Barat, Indonesia. The project is poised to unlock approximately 3 trillion cubic feet of additional gas resources, aligning with BP's strategy to meet Asia's growing energy demand while advancing its low-carbon commitments. The Tangguh UCC project is set to feature Indonesia's first large-scale implementation of carbon capture, utilization, and storage (CCUS) technology. This innovative approach aims to sequester
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