Modification to the Hides Gas conditioning plant are planned to further optimise production rates upstream, in the first half of 2018.Oil Search managing director, Peter Botten said in its fourth quarter report released yesterday.
He said this follows after the company and ExxonMobil in December on behalf of the PNG LNG project participants, completed its evaluation of proposals received for the additional 1.3 MTPA of LNG being marketed.
He said the offers were received from a number of top-tier LNG buyers, including end users and traders, with strong interest in securing contracts for periods of up to five years.
“Oil Search expects the joint venture to sign binding contracts during the first half of 2018.
“In the first half of 2018, modifications to the Hides Gas conditioning plant are planned to further optimise production rates upstream.
Oil Search expects to see production benefits from this in the second half of the year,” he said.
Mr Botten said work on tying in the Angore A1 and A2 wells to existing project processing facilities remains ongoing, with the wells expected to come online in 2019.
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