BP and its partners have obtained a 20-year extension of the Tangguh production sharing contract in Indonesia, securing the future of a key liquefied natural gas project where carbon capture, utilisation and storage (CCUS) is planned in the next development phase. The UK supermajor now plans to accelerate exploration activity on the asset, in a bid to discover more feed gas for LNG exports and for the domestic market. "With the extension, we will be able to continue our important work to meet the country's energy demand by expediting exploration activities, contributing to the state's revenue and further supporting the local economy," said BP's regional president for Asia Pacific gas and low carbon energy, Kathy Wu. "With our recent addition of other blocks in Indonesia, this also reflects our confidence in the government of Indonesia as we continue to invest in country and deliver energy solutions." Tangguh is the largest producing gas field in Indonesia, accounting for about 20% of the nation's gas output. It has generated significant revenues for Indonesia, both at the national government level and in Papua Barat (West Papua) province and Teluk Bintuni regency, where the project is located.
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