BP pledges to enhance investment by ten bln USD in Indonesia

British power giant British Petroleum (BP) has committed to raise investment in Indonesia by a lot more than 10 billion U.S. dollar more than the following 10 years, especially within the enormous Tangguh gas project in Papua and coal- bed methane in Kalimantan, a regional media reported here on Monday.

"BP in Indonesia has invested 7 billion U.S. dollars and we are taking a look at an further ten billion U.S. dollars more than the following ten years," BP chief executive Robert Dudley was quoted by the Jakartaglobe as saying.

BP features a 37.16 percent interest the Tangguh liquefied all-natural gas project in West Papua, with proven reserves of about 14.four trillion cubic feet of gas. The company is trying to expand its LNG plant there, which now consists of two production trains with output of at the very least 7.six million metric tons of LNG a year.

"We talked in regards to the commitment to create a third train and possibly fourth train for LNG at Tangguh Papua," Dudley said right here in Jakarta.

"That investment would be billions of dollars and we will be bringing forward the proposal for approval within the subsequent couple of months, " Dudley added, saying that BP was also tapping CBM projects in Indonesia, with its subsidiary awarded three such blocks in Central Kalimantan this year.

BP, one from the best foreign investors inside the nation, has been operating here for 35 years.

Indonesia is searching for a lot more investment within the oil and gas sector to meet domestic demand for energy and improve revenues.

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