A joint study by Pertamina and ExxonMobil (XOM) estimates the basin to store up to three gigatons of carbon dioxide, potentially requiring an investment of $2 billion.
BP's focus on operational efficiency and cost management is set to yield at least $2 billion in cash cost savings by the end of 2026.
The shares will be offered at Enbridge's (ENB) discretion, allowing sales to the public intermittently at current market prices.