THERE has been an increase in discussions on LNG expansion held between Oil Search, ExxonMobil and Total SA during final quarter of last year, according to Oil Search.
The company, in its 2017 fourth-quarter report, highlighted that results of engineering studies on potential downstream development options for processing Elk-Antelope in Gulf and P’nyang gas in Western, were provided to the joint venture participants in late December.
Oil Search, in its report that was released yesterday, noted that these studies were primarily focused on the evaluation and comparison of the downstream configuration and capacity for potential PNG LNG expansion and the development of Papua LNG.
Managing director Peter Botten said the joint venture would use these findings to determine its preferred development option, which it intends to present to the PNG Government early this year.
“This will lead to the negotiation of a final gas agreement, prior to FEED (front end engineering design) entry in the second half of this year, with FID (final investment decision) targeted for next year,” he said.
“LNG expansion will be underpinned by the more than 10tcf (trillion cubic feet) of discovered undeveloped gas resource in the Elk-Antelope and P’nyang fields, and potentially gas from the foundation project fields, which provides an option to front-end part of the new capacity with low-cost gas.
“The joint venture remains aligned on pursuing an integrated development that will benefit all stakeholders through material construction and operational synergies.”
Next >> Scientists warns on Seabed Mining
The company, in its 2017 fourth-quarter report, highlighted that results of engineering studies on potential downstream development options for processing Elk-Antelope in Gulf and P’nyang gas in Western, were provided to the joint venture participants in late December.
Oil Search, in its report that was released yesterday, noted that these studies were primarily focused on the evaluation and comparison of the downstream configuration and capacity for potential PNG LNG expansion and the development of Papua LNG.
Managing director Peter Botten said the joint venture would use these findings to determine its preferred development option, which it intends to present to the PNG Government early this year.
“This will lead to the negotiation of a final gas agreement, prior to FEED (front end engineering design) entry in the second half of this year, with FID (final investment decision) targeted for next year,” he said.
“LNG expansion will be underpinned by the more than 10tcf (trillion cubic feet) of discovered undeveloped gas resource in the Elk-Antelope and P’nyang fields, and potentially gas from the foundation project fields, which provides an option to front-end part of the new capacity with low-cost gas.
“The joint venture remains aligned on pursuing an integrated development that will benefit all stakeholders through material construction and operational synergies.”
Next >> Scientists warns on Seabed Mining
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