BP's $8 Billion Tangguh Project Boosts Indonesia's Upstream Job Market

The decision by BP plc and Tangguh Production Sharing Contract (PSC) partners todevelop the $8 billion Tangguh Expansion Project in Indonesia’s Papua Barat Provincewill create 10,000 new jobs, providing some light in an otherwise depressed job market, industry sources said.

Upstream job prospects in Indonesia have dimmed as consecutive years of cutbacks in industry capital expenditures have curbed, if not trimmed, demand for staff.

“Sentiment has weakened [and] coupled with the fall in oil prices, the outlook doesn’t look good,” William Simadiputra, a Jakarta-based oil and gas analyst at DBS Vickers Securities, told Rigzone.

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