BP and partners said they would invest $7 billion in a carbon capture project and gas field development in Indonesia's easternmost Papua region that could unlock 3 trillion cubic feet of additional gas resources.

The British oil giant approved plans to expand the facility in the troubled Indonesian province of West Papua at a meeting with President Prabowo Subianto.

BP (NYSE:BP) and its partners announced a final investment decision Thursday on the $7B Tangguh natural gas project in Indonesia that will eventually use carbon capture, utilization and storage in the production process,