The company was warned by the Government to push forward with its development work which was slow.
The company in a statement yesterday said it had started its procurement process for the Stanley project by completing an expression of interest exercise.
“The results received thus far show excellent participation from the industry, enabling Repsol to progress a competitive tender to select a suitable engineering service provider to design and develop the Stanley resources,” it said.
Repsol expects the contract, for front end engineering design and potentially engineering, procurement and construction activities, to be awarded in the third quarter of this year.”
It is currently in discussion with Ok Tedi Mining Limited about the potential of supplying gas-fired power from the Stanley gas field.
The company’s Australia-Papua New Guinea country manager Jesus Chillón said: “This project is in the interest of many stakeholders.
“It helps kick-start the Stanley project in a very challenging environment to provide Ok Tedi Mining Limited with a more sustainable, cleaner and weather-proofing energy supply solution.
“It also helps create jobs and benefits for the people and landowners in Western.
“We need to ensure that economic conditions are sound in order to make the project commercially feasible.”
He said Repsol had made progress with its drilling campaign in petroleum prospecting licence (PPL) 269 (Strickland wells) in Western “despite severe drought caused by El Nino affecting the navigability of barges in the Fly River. The National / PMW