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BP PLC - London-based oil major - Receives a 20-year extension of the Tangguh production sharing contract from the government of Indonesia. Under the deal, the Tangguh PSC, consisting of the Berau, Muturi and Wiriagar PSCs will expire in 2055.
BP Executive Vice President Anja-Isabel Dotzenrath says: ‘This extension reflects bp’s long-term commitment to Indonesia. It will allow us to continue to build on the great work that our Indonesia team has been doing - with our partners and the strong support of the government to deliver much-needed natural gas safely and reliably from Tangguh to Indonesia and other markets. Today’s agreement will help open new possibilities for Tangguh’s future.’
Tangguh is the largest gas-producing field in Indonesia, accounting for around 20% of the country‘