07:04 AM EST, 11/22/2024 (MT Newswires) -- BP (BP) said Thursday that it has made a final investment decision to go ahead with the $7 billion Tangguh Ubadari carbon capture, utilization, and storage compression project in Indonesia on behalf of its production sharing contract partners.

The project has the potential to unlock around 3 trillion cubic feet of additional gas resources in Indonesia, the company said.

The project, which comprises the Ubadari gas field development, expands and utilizes existing infrastructure at the Tangguh LNG facility. Production at the Ubadari field is expected to start in 2028.

Tangguh is expected to be the first carbon capture, utilization, and storage project developed at scale in Indonesia, with potential for sequestering around 15 million tonnes of CO2 emissions in its initial phase, the company said.