Tangguh gas field
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The Tangguh natural gas field lies in Bintuni Bay inside the province of West Irian Jaya, Indonesia. It contains over 500 billion m³ of proven natural gas reserves, with estimates of potential reserves reaching over 800 billion m³.
The Tangguh field is developed by a consortium of international companies, led by BP (37% stake), CNOOC (17%), and Mitsubishi Corporation (16.3%). Smaller partners include the Japanese companies Nippon Energy, Kanematsu, Sumitomo, and Nissho Iwai.
Natural gas extracted from the field will be liquified and the resulting LNG transported to Asian customers, mostly in China, South Korea, Japan. Production is estimated to commence in the second half of 2008. The project is excpected to allow Indonesia to keep a significant share of world LNG market, compensating the progressive phase-out of the Arun terminal in Sumatra, whose reserves are largely depleted.
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