BP SIGNS DEAL TO SHIP PAPUAN OIL TO MEXICO

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WELLINGTON, New Zealand (RNZI, Oct. 13) – Energy giant British Petroleum is set to supply 3.7 million tons a year of liquefied natural gas to Mexico from a gas field in the Indonesian province of Papua.

BP signed a 20-year contract on Tuesday to supply the gas to U.S.-based Sempra Energy from the Tannguh gas field in Papua’s Berau Bay area.

Tangguh, an Indonesian national project, is partly owned and operated by BP and is expected to go into production in 2008.

Analysts say the deal is significant as it means there are now enough sales commitments for the planned US$5 billion venture to go ahead.

October 14, 2004

Radio New Zealand International: http://www.rnzi.com/

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