UCC Tough Project EPCI Contract Worth IDR 56.5 Trillion Signed

JAKARTA - As a continuation of the announcement of the final investment decision (FID) of the UCC Tangguh National Strategic Project (PSN), today Tuesday, November 26, 2024 bp has signed onshore and offshore Engineering, Procurement, Construction, and Installation (EPCI) contracts.

The signing was carried out with two contractors worth US$3.6 billion or around Rp56.5 trillion, namely Saipem in a consortium with PT Meindo Elang Indah partner, and the second with JGC Holdings Corporation, through the local subsidiary of PT JGC Indonesia.

The signing of the contract was held today, Tuesday, November 26 by Procurement VP bp James Tehubijuluw, while the signings from Saipem are Paolo Evangelista and Vincent Chan of Meindo. The signing of JGC Indonesia is Soeryadi.

Also witnessed the signing of the contracts of the Head of SKK Migas Djoko Siswanto and Kathy Wu, bp regional president of Asia Pacific, gas & low carbon energy.

Previously, the announcement of the final investment decision (FID) worth more than US$7 billion or around Rp110 trillion on the UCC Tough Project itself was delivered by CEO bp, Murray Auchincloss, on behalf of bp and working contract partners, to President Prabowo Subianto in London on November 21, 2024, during Prabowo's first working visit to England.

Head of SKK Migas Djoko Siswanto expressed his joy that towards the end of 2024, the UCC Project has succeeded in reaching two important milestones in its development.

The first milestone is the decision of the FID and the signing of the EPCI contract for land and offshore facilities.

Djoko asked bp to take lessons from the implementation of Project Train 3.

"I ask that bp be proactive and actively communicate to SKK Migas, do not wait until there are problems that arise, must be identified and an effort to resolve problems from an early age so that this project can be completed according to plan both in terms of schedule and cost," said Djoko, Tuesday, November 26.

Meanwhile, the regional bp of the president of Asia Pacific, gas & low carbon energy, Kathy Wu, said that the Tangguh Project has the potential to produce 3 trillion cubic feet of additional gas resources for the fulfillment of energy needs that continue to increase in Indonesia and Asia, as well as support Indonesia's decarbonization efforts through reinjection of around 15 million tons of CO2 in the initial phase.

Investasi senilai 7 miliar dolar AS dari bp dan para mitra Tangguh ini merupakan bukti komitmen kami bagi ketahanan dan keberlanjutan energi Indonesia serta pengembangan wilayah Papua. Kami tidak mungkin mencapai keputusan akhir investasi proyek besar ini tanpa dukungan dari Kementerian ESDM dan SKK Migas. Saya mengucapkan kasih dan penghargasi sebesar-besarnya atas dukungan dan kolaborasi yang telah tertanggar selama ini, tandas Kathy.