30 May 2011

BP commits US$10b investment in Papua

3:03 pm on 30 May 2011

The British energy company BP has committed to invest more than ten billion US dollars in Indonesia over the next decade, particularly in the massive Tangguh gas project in Papua, as well as in coal-bed methane in Kalimantan.

The Jakarta Post quotes the BP chief executive, Robert Dudley, as saying after meeting President Susilo Bambang Yudhoyono on Friday, that BP in Indonesia has invested seven billion dollars and is looking at an additional 10 billion over the next 10 years.

BP has a 37 percent interest the Tangguh liquefied natural gas project in West Papua, which has proven reserves of more than 14 trillion cubic feet of gas.