BP Indonesia cuts investment budget for Tangguh Train 3 LNG project
5/26/2016
JAKARTA - BP has cut its investment budget for the Tangguh Train 3 LNG project in Indonesia to between $8 B and $10 B, from $12 B previously, a company official said on Wednesday, amid depressed oil prices.
"The market is adjusting to oil prices and we have to make a lot of effort to maximize the scope so we can keep costs down," BP Indonesia country head Dharmawan Samsu told reporters.
BP is currently holding a tender for engineering, procurement and construction for the third LNG train at its Tangguh project in West Papua and expects a final investment decision on the project mid-year, Samsu added.
(Reporting by Wilda Asmarini; writing by Fergus Jensen; editing by Christian Schmollinger)
Sign up to Receive Our Newsletter

- TotalEnergies CEO expects to restart Mozambique LNG project this summer
- TotalEnergies and CMA CGM to launch LNG bunkering logistics JV to accelerate maritime decarbonization
- Renergen awards EPCC contract for Tetra4 LNG and helium project
- thyssenkrupp nucera acquires modular high-pressure electrolysis solution from Green Hydrogen Systems
- VTB to allocate > $10 B for Ust-Luga gas processing complex project
Comments