Indonesia Extends Blocks for Tangguh LNG

Supermajor BP has been given a boost at itslong-awaited $5 billion Tangguh LNG project in Indonesia, after Jakartaextended production sharing contracts on associated blocks earmarked to supplygas for the project, according to Reuters.

The Indonesian government agreed to extend thecontracts for three Tangguh blocks -- Wiriagar, Muturi and Berau -- until 2035,Reuters said. The contracts would otherwise have expired before the end oflong-term LNG supply agreements already agreed with the buyers.

"[Thecontracts] have been signed, so the project can go ahead," BP's vicepresident...