Gulf lng project png update. The Project will have an LNG export volume of 5.
Gulf lng project png update Jun 24, 2024 · The staff of PNG Extractive Industries Transparency Initiative (PNGEITI) attended a one day workshop hosted by ExxonMobil’s Government Relations team. Dec 12, 2023 · It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. The project initially required an estimated investment of $9. 6 million tonnes per year (Mt/y). InterOil Corporation has been with the project, based on the Elk-Antelope gas fields in Gulf Province, since its inception. Dec 9, 2024 · Santos, alongside project partners TotalEnergies and ExxonMobil, is gearing up for a critical decision on the $15 billion Papua LNG project by late 2025. May 24, 2024 · Kinder Morgan owns 50 percent in the project through its unit, Southern Gulf LNG Company, the operator of the Gulf LNG terminal, according to its website. It is Discrimination and Racist at its best and one which promote Secessionist mentality. The Company now employs nearly The Pasca A gas-condensate field is located offshore Papua New Guinea in the Gulf of Papua. “Our goal is to brand Papua New Guinea as a green energy ExxonMobil is proud to have signed the P’nyang Gas Agreement with Papua New Guinea linking new upstream facilities in Western Province to existing infrastructure. 5 per cent interest in Papua LNG, which it is expected to formally exercise at the time of a final investment decision. James Marape recently praised the economic opportunities the Papua LNG Project and the Wildebeest LNG Project are set to bring, as both natural gas projects underline the potential for business growth and development in the region. Oct 21, 2024 · Stay updated on Santos' $15 billion LNG project in Papua New Guinea with latest developments and challenges. This ambitious undertaking aims to harness the Elk-Antelope gas fields in Papua New Guinea’s Gulf Province, potentially solidifying the nation’s status as a major player in the global energy market. Jul 20, 2022 · “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Our operations are producing approximately 7. Our landowners are now risk-takers in this significant project, marking a milestone for us. FLEX LNG has invested close to 500 million USD in equity in the construction contracts with SHI and a substantial amount […] May 8, 2023 · Papua New Guinea’s last resource boom, from 2009 to 2014, was narrow, driven by gas. The Marape-Rosso government places high priority on the delivery of Papua LNG May 8, 2024 · Prime Minister James Marape today called on the residents of Gulf Province to prepare to supply goods and services to the forthcoming Papua LNG Project and the Wildebeest LNG Project. CP15-521-00 . Apr 9, 2019 · The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33. This landmark deal promises significant economic and social benefits. “We are in a strong position for economic growth, and I encourage our financial institutions, superannuation funds, and private sector players to align with these developments Apr 8, 2024 · As a consequence, FID of Papua LNG project is now expected in 2025. 01 billion). James Marape has reaffirmed his government’s commitment to advancing the Papua LNG project, confirming that Final Investment Decision (FID) is expected by the end of 2025, paving the way for a new wave of economic growth in Papua New Guinea’s oil and gas sector. Nov 10, 2011 · Gulf LNG project includes the development of the onshore Elk and Antelope gas and condensate fields in the Gulf Province of Papua New Guinea. The project, which will double PNG's gas production, represents the second-largest foreign direct investment ever in the country. With […] The project will have an LNG export volume of 5. Finances and shareholdings of ExxonMobil’s PNG LNG project. Mar 26, 2025 · The Papua New Guinea Chamber of Resources and Energy (PNG CORE) is proud to announce its Highly Commended Recognition in the Best Use of Technology (500+ category) at the 2024 EventsAir Innovation Awards. 7% interest in PNG LNG. While the resource sector is far from homogenous, the next boom cycle will be different. Jan 29, 2014 · Additionally, such consolidation of cargoes will save the Total/InterOil Gulf LNG Project cost and time and will benefit both the developer and the National Government of PNG. 3% stake in the fields to multinational energy company Total SA for up to US$3. Prime Minister James Marape today called on the people of Gulf Province to prepare to supply goods and services to the forthcoming Papua LNG Project and the Wildebeest LNG Project. 1 per cent), Santos (22. PM Marape called on the residents of Gulf Province to prepare to supply goods and services to the forthcoming projects, emphasizing the On October 1, Gulf MTP LNG Terminal Company Limited entered into a Public Private Partnership (PPP) contract with Industrial Estate Authority of Thailand (IEAT) for development of Map Ta Phut seaport phase III (Section 1) with the joint investment including land reclamation with the investment cost of approximately Baht 12,900 million, and the Jul 14, 2021 · The Pasca A gas condensate field lies in the Gulf of Papua, about 95 km offshore. 8 per cent) and ExxonMobil (37. As Papua New Guinea’s state nominee, Kumul Petroleum Holdings and the Mineral Resources Development Company have an option to take up to 22. The InterOil Board of Directors intends to meet the Company’s advisors during the first week of March 2013 for […] May 1, 2014 · In August 2010, BAM Clough joint venture was awarded a A$314m contract for building the condensate and LNG offloading jetty in the Gulf of Papua for the PNG LNG project. 8 Mar 21, 2023 · Photo Credit: Papua LNG - Map showing 260 km of offshore pipeline and 60 km of onshore pipeline extending from Elk and Antelope fields to Caution Bay On March 07, 2023, in separate announcements, Santos, TotalEnergies, and Exxon announced the Papua LNG project had launched the first phase of a fully integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Jun 18, 2024 · Last month, Twinza and Mineral Resources Development Corporation signed agreements which will see MRDC acquire a major stake in Pasca A, Papua New Guinea’s first offshore gas project. Intertek Completes Calibration Contract for Papua New Guinea Pipeline; Investigation into PNG Transaction Concluded ; Jacobs to Provide EPC Services for Facilities in Papua New Guinea; JGC Awarded Papua LNG Downstream FEED Project in Papua New Guinea; Joint Statement of the Independent State of Papua New Guinea and TotalEnergies Apr 9, 2019 · Port Moresby, April 9, 2019 – Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project. Jan 24, 2013 · InterOil said that it has advised bidders with which the Company has been in discussions that the final binding bid solicitation period for the LNG partnering process currently being undertaken will close on February 28, 2013. This Gas Agreement allows the partners to enter the Front-End Engineering Design (FEED) phase of study that will lead to the Final Parliament passes Papua LNG Project Amendments Bills, the Minister for Petroleum announces that the P'nyang gas field project will be a standalone project, and Twinza Oil says it expects the first production of liquids from the Pasca A condensate gas field by 2022. TO THE INTERESTED PARTY: The staff of the Federal Energy Regulatory Commission (FERC or Commission) has prepared a final environmental impact statement (EIS) for the Gulf LNG Liquefaction Project proposed by Gulf LNG Liquefaction Company, LLC; Gulf LNG Energy, LLC Dec 20, 2024 · “In Hevehe, more than 50% equity is owned by Gulf-related entities such as PRK, Pipeline, Gobe, and the Gulf Provincial Government, which holds 10%. Landowners from the Papua Liquefied Natural Gas (LNG) project are calling on relevant stakeholders in the project to address issues pertaining to usage of land, water ways, environment and spin off benefits among others. 6 billion (K9. It began with a group of Australian geologists who first came in 1913 to PNG to investigate prospects of hydrocarbon on behalf of the Australian Government. The gas resources have been estimated at over 1 billion barrels of oil equivalent. It followed the granting of three other licences – for the Kimu and Barikewa onshore gas fields in PNG’s Forelands region and offshore at Uramu earlier the same year. The remaining 50% includes our subsidiaries in mining and PNG LNG. The project will extract fossil gas from nine production wells at two new onshore fossil gasfields, Elk and Antelope in the highlands of Gulf Province. Last week in Port Moresby, the business community received an extensive briefing from project partners TotalEnergies, ExxonMobil and Santos on the plans to construct the Papua LNG project, expected to be the single largest project constructed in PNG since the completion of the PNG LNG project in 2014. I believe that Kumul Petroleum Holdings, which is anticipated to hold this interest, is really keen on this project. 1%) with ExxonMobil (37. in Papua New Guinea since the 1920s, and in addition to construction of the PNG LNG Project, the company has interests in fuels marketing and oil production. Nov 17, 2012 · PNG cabinet approves InterOil's Gulf LNG project InterOil The decision clears the way to proceed with our plans for an LNG plant in the Gulf Province with initial output of a minimum of 3. Twinza has submitted a development plan which envisages two phases of production: initial production of natural gas liquids (condensate and LPG) ahead of future gas export as LNG. Mar 29, 2016 · With the PNG LNG project now in production, all eyes are on Papua New Guinea’s next likely gas project: Papua LNG. May 30, 2023 – Port Moresby, Papua New Guinea Marking yet another milestone for the Papua LNG project, six (6) of the required petroleum applications licences were submitted to the Department of Petroleum and Energy (DPE). ’ Exxonmobil is on the verge of making Papua New Guinea’s largest LNG discovery. ‘Next step is the Front End Engineering Design (FEED), followed by the Final Investment Decision (FID). “We discussed the importance of aligning our LNG production with PNG’s green credentials,” PM Marape said. The people who name it are so naive about our history. Dec 22, 2024 · Papua New Guinea has taken a significant step in the energy sector with the signing of an agreement to develop the country’s first offshore gas project, Pasca A, in the Gulf Province. P’nyang gas project – Following Papua LNG to ensure long-term energy sector expansion. Jul 28, 2022 · The FEED process is an essential step ahead of a final investment decision for the Papua LNG project, expected in late 2023. Jul 8, 2015 · I totally opose the namimg new LNG Project as “Papua LNProject”. In its first year of production, the US$19 billion project produced over 6 million tonnes of LNG and delivered 87 cargoes. 9 million tonnes of liquefied natural gas each year which we export to four major customers in the Asia region. Feb 22, 2022 · IRVING, Texas – ExxonMobil subsidiary Esso PNG P’nyang Limited, Ampolex Limited, and the Independent State of Papua New Guinea have signed the P’nyang project gas agreement for the proposed development of the P’nyang LNG project. Dec 10, 2024 · Timing is everything in LNG, and delays at the planned 5. Papua New Guinea is highly prospective for oil and gas, with deposits being found across its Highlands provinces, Foreland Basin and even beneath the Gulf of Papua. ” Providing an update on some of KPHL’s work, Mr Sonk said: “We have completed a feasibility study for Floating LNG potential using gas from Pandora and Uramu on the offshore of the Gulf of Papua LNG. 2 billion) Papua LNG project has commenced. ” Prime Minister Marape reaffirmed the government’s stance on securing benefits of above 55 per cent for all major resource Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. Commitment “Our commitment to Papua New Guinea is one of mutual benefit for the State of Papua New Guinea and its people and is built on the strength of collaboration and partnership that underpins everything we do. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago. Sep 22, 2024 · We envisage that before we go to the 2024 Papua New Guinea Investment Week in Sydney, Australia, in December, we should have advanced the Pasca A Gas Project into a stage where it gives confidence to our investors. Learn more about the PNG LNG Project at www. Oct 13, 2021 · The aim is for P’nyang to share infrastructure with the PNG LNG project, including its 700 km pipeline and the LNG Plant at Caution Bay near Port Moresby, although the government has been determined to treat P’nyang as a standard-alone project for the purposes of licensing and permitting. Mar 5, 2014 · Oil Search’s purchase of Pac LNG’s 22. Papua LNG is expected to have liquefaction capacity of up to six million tonnes of LNG per annum with first production expected by the end of 2027 or early 2028. PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. It was an information sharing session aimed to shed light on various aspects of the PNG LNG project, particularly its benefits that will have a positive and long lasting impact on the country. Gas produced from these fields is proposed to be liquefied by a floating LNG (FLNG) vessel and exported. 8 million tonnes per annum. Early works are on track for 2024. Papua LNG project is committed to building long-term constructive relationships with its stakeholders and providing benefits for the country. FLEX LNG (Oslo Axess: FLNG) would like to provide shareholders with an update regarding the status of ongoing discussions with the sponsors of the Gulf LNG Project and Samsung Heavy Industries (“SHI”). . Since then exploration activities went on without commercial discoveries until 1986 Papua LNG is a liquefied natural gas (LNG) production project led by TotalEnergies in response to Papua New Guinea’s desire to develop its gas resources. Learn about the economic impact and future plans. The signing between the State and Twinza Oil Limited took place yesterday in Port Moresby. With an estimated US$20-25 billion in construction activity over the next decade, the government is ensuring that PNG is positioned for long-term prosperity. Jul 14, 2021 · Prime Minister James Marape said that the Papua LNG project in the Gulf will enter pre-Feed (front end engineering and design) in September. The Prime Minister and Patrick Pouyanné agreed that this slight delay will not affect the early works planned in Papua New Guinea in 2024 and that the project will maintain its full support to local population of Gulf Province. Your weekly digest of business news. The Project will have an LNG export volume of 5. Jul 26, 2011 · SINGAPORE and HOUSTON, July 26, 2011 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC), in response to statements attributed to Papua New Guinea 's new Minister of Petroleum and Mar 1, 2023 · In 2021, Kumul Petroleum was granted the Petroleum Retention Licence for the Pandora gas field in the Gulf of Papua. 6 million tonnes per year. Oil Search Limited’s Managing Director, Peter Botten told the Australian Stock Exchange on Monday it was in ‘ongoing’ discussions over the purchase of equity in the licence area Santos today announced the Papua LNG joint venture has launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Guinea. Jan 23, 2012 · Road Town, Tortola, 23 January 2012. Kerenga Kua, at the Dream 6 days ago · Prime Minister Hon. Historic Signing Ceremony The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minister Hon. This was announced officially by the Minister of Petroleum and Energy, Hon. 5bn over the 30-year lifetime of the project. 1%) and Santos (22. 835% share in Elk/Antelope last week follows majority shareholder InterOil’s agreement last December to sell a 61. Twinza Executive Chairman Stephen Quantrill tells Business Advantage PNG the deal also paves the way for further cooperation. Oil Search Limited, one of the key players involved with PNG’s existing LNG project, the ExxonMobil-led PNG LNG project, is also looking at joining the venture. James Marape, senior ministers Dec 10, 2024 · But Mr Marape said he saw “no better alternative available in the next 30 years” than LNG to support the energy transition. May 29, 2013 · InterOil and its joint venture partner Pacific LNG have confirmed they are entering into exclusive negotiations with ExxonMobil, the operator of US$19 billion PNG LNG project, to develop InterOil’s Elk and Antelope gas fields in Papua New Guinea’s Gulf Province. JX Nippon is an affiliate of ENEOS and already holds a 4. In this scenario the Gulf LNG project should be phased up with a first LNG plant sized at 3. May 25, 2022 · GULF Liquefied Natural Gas (LNG) Pipeline landowners have cried foul over a purported unsanctioned development forum conducted by the Gulf Provincial Government early this month. Oct 18, 2024 · “KPHL now has 19 per cent plus in the PNGLNG project, which strengthens our balance sheet and prepares us for future projects. It was characterised by the surge in activity associated with the PNG LNG project, with some stimulus from public infrastructure and expansion of existing gold/copper mines. We would like to show you a description here but the site won’t allow us. May 13, 2024 · Prime Minister Hon. "The Sep 29, 2011 · FLEX LNG yesterday responded to the article published in the Norwegian business newspaper “Finansavisen” containing misleading information that portrays the Gulf LNG project in a manner that neither FLEX LNG nor InterOil Corporation recognise. He expressed his gratitude and commendation to ExxonMobil, the project partners, co-venturers, along with the Western Jan 6, 2025 · The Government of Papua New Guinea (PNG), Hevehe Petroleum, and Twinza Oil have signed the Pasca Gas Agreement, marking the country’s first offshore petroleum project. He said PNG would produce LNG through to 2060 and pointed to the Jan 13, 2025 · The company recognises PNG’s negative carbon footprint and the country’s potential to market its LNG as a cleaner, more sustainable energy source in the global market. While a green light for Papua LNG will be the trigger for the zone’s construction, Peter KenGemar, Project Director of ISEZ, told the recent the 2021 Business Advantage Papua New Guinea Investment Conference that the necessary seed funding to advance the zone was now in place. Gulf LNG Liquefaction Project . The Gulf LNG Project will also use the proposed Gulf Port, which will be constructed by Gulf Teras Services Ltd. To effectively run operations, transparency will be at the core. Speaking at the launch of the NASFUND FM100 Talkback Show on Monday, the Prime Minister addressed recent Mar 7, 2023 · Should Papua LNG proceed, gas from Elk and Antelope – which lie inland from the Gulf of Papua – is to be transported through a 320-kilometre onshore and offshore pipeline to the PNG LNG site Mar 7, 2023 · A long-awaited milestone towards Papua New Guinea’s next phase of economic growth was reached yesterday with the announcement by joint venture partners, TotalEnergies (40. 7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. ExxonMobil PNG, the developer of the PNGLNG is a Papua New Guinea’s oil and gas sector continues to attract new entrants as its ExxonMobil-led PNG LNG liquefied natural gas project moves inexorably towards a production stage. TotalEnergies Exploration and Production Asia-Pacific Vice President Country Delegate for Papua New Guinea, Aymen Yahyoui, provided an update on the upstream activities of TotalEnergies in the Country, at the second day of the PNG Investment Week Conference in Sydney, Australia on December 10, 2024. Mar 27, 2019 · THE host province of the Papua LNG project, the Gulf Province, through its leaders has put forward three non negotiable conditions for Gas Project Agreement adherence to be considered by the NEC before or at the same time as the Gas Agreement signing set for April 5 this year. “Papua LNG will move into pre-Feed in September after the financial stability agreement was signed in February,” he said. Eight clans along the LNG Pipeline corridor are Evara, Hepere, Arehava, Paevera, Avavu, Huruta, Ere and Kilari claimed that the forum had also compiled an unofficial UPDATE 2022 - Papua LNG (TotalEnergies) In 2019 Total SA, now TotalEnergies, and the PNG government inked an agreement to develop a new project called Papua LNG to exploit the Elk and Antelope gas fields in Baimuru, Gulf Province, the traditional lands of Pawaian people. In the framework of this integration between Papua LNG and PNG LNG, TotalEnergies is pleased to also announce the signature of a head of agreement with JX Nippon Oil and Gas Exploration in the view to sell a 2% interest (post Kumul back-in right) in Papua LNG. Papua LNG Project led by TotalEnergies (40. The focus will be on local agriculture and fisheries for food supplies, forestry for timber, and tourism to accommodate the surge of workers and visitors expected. Dec 3, 2024 · Could Papua New Guinea’s second gas project get the green light in 2025? In an exclusive interview with Business Advantage PNG, Arnaud Berthet, Managing Director of TotalEnergies EP PNG, outlines the Papua LNG project timeline and the activities left to complete on the road to FID. Nov 25, 2019 · Papua New Guinea became a significant player in the gas industry in April 2014, when the PNG LNG project, which is headed and operated by ExxonMobil, commenced production. Jun 18, 2024 · If successful, Wildebeest could expand the construction window for LNG projects in the country even further – out to 13 years. G969 for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. 6-million-ton-per-year Papua LNG export terminal have raised concerns about feedstock shortages for PNG LNG, Exxon’s flagship joint venture. Mar 25, 2019 · Gulf Province is located on Papua New Guinea’s southern coast. Apr 29, 2016 · Philippe Blanchard: It is an important project for Papua New Guinea. Papua LNG is a fossil gas project led by TotalEnergies, with co-venturers ExxonMobil and Santos, located in Gulf province in Papua New Guinea. *** TotalEnergies in Papua New Guinea TotalEnergies has been present in Papua New Guinea since 2011. “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development," said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. Our country is Papua New Guinea and not Papua and New Guinea. Feb 12, 2025 · Pasca A offshore gas project, set to contribute to PNG’s LNG portfolio P’nyang gas project – following Papua LNG to ensure long-term energy sector expansion. TotalEnergies EP PNG Limited (TotalEnergies), the operator of the Papua LNG project, in alignment with its ongoing commitment to community development, presented Pocket Sunshine solar lamps to Grade 8 students at St John Bosco Catholic Primary School in Kuriva, Koiari Rural LLG, Central Province, on March 1, 2025. Twinza Oil is aiming to produce 220,000 tonnes of liquefied petroleum gas annually from the gas field – 20,000 barrels of liquid per day – roughly 55 per cent condensate and 45 per cent LPG. Introduction The PNG LNG Project is unlocking value from stranded gas resources in the Highlands of Papua New Guinea. Chief Executive Officer Michael Hession tells Business Advantage PNG why the project is still promising, even in a time of low global gas prices. Gas resources in PNG have been estimated at over 1 billion barrels of oil equivalent. The province has about 500 kilometres of roads, mainly along the eastern coast and mountains. The project should be called Gulf LNG Project or Kerema LNG Project. Dec 19, 2024 · He highlighted the unprecedented level of local participation in the project, noting that the MRDC will own 50% of the investment in the Pasca A project, partnering alongside Twinza Oil Ltd. Project Overview Gulf LNG Liquefaction Company, LLC (GLLC), an affiliate of Gulf LNG Energy, LLC (GLE) and Gulf LNG Pipeline, LLC, (GLP) is developing the proposed Gulf LNG Liquefaction Project, which would add liquefaction and export capabilities to the existing Gulf LNG Terminal located in Jackson County, Mississippi. The focus has shifted from Oil to Liquefied Natural Gas (LNG Apr 3, 2025 · PNG LNG is an integrated development that is commercialising the gas resources of Papua New Guinea. Jan 26, 2022 · Seed funding. Apr 11, 2024 · PNG Prime Minister James Marape and TotalEnergies chair and chief executive officer Patrick Pouyanné have provided a joint update on the status of the Papua LNG project. Mar 27, 2024 · The Government and the project partners for the US$12 billion (or K36 billion) P'nyang LNG project in Western signed the Fiscal Stability Agreement on March 18, 2024 in Port Moresby. G967, No. Feb 11, 2025 · Pasca A offshore gas project – Set to contribute to PNG’s LNG portfolio. “It is my expectation that as the country celebrates its 46th Independence anniversary on Sept 16, we will observe much Jan 30, 2025 · Find the latest news on the Papua LNG project here : While several factors have delayed the final investment decision on Papua LNG, Papua New Guinea’s second gas project, Jean-Marc Noiray, Managing Director of project lead TotalEnergies E&P PNG, says he’s “confident” the project will reach that landmark this year, “with all the lines of activity progressing well: technical optimisation, regulatory permitting, gas marketing and project “The commencement of upstream FEED studies is another significant step towards developing the Papua LNG project, which will increase Papua New Guinea’s LNG export capacity and thus contribute to its further development,” said Julien Pouget, Senior Vice President Asia Pacific for Exploration & Production and Renewables at TotalEnergies. The […] Gulf LNG Pipeline, LLC . Feb 11, 2025 · Prime Minister Hon. Termed wildebeest, it will be bigger than the PNGLNG and the Papua LNG combined, and the super major is working with the Minister for Petroleum and Energy Kerenga Kua and his team to advance exploration to determine the size of the resource. Business Advantage PNG: Gulf Province is in one of the less developed areas of Papua New Guinea. The Project will have a projected LNG export volume of 5. It has a concave coastline of large deltas that lead into the Lakekamu Basin, and has mountains and wide expanses of seasonally flooded grass plains stretching out from the Turama, Kikori, Purari and Vailala rivers. Centered on the Kikori district of Gulf Province, the Ihu Special Economic Zone (ISEZ) will consist of a free trade zone, petroleum park, industrial zone, technology park, forestry park, marine park, a deep sea port and airport, a township with hotels and resorts, and a government and administration area, Peter KenGemar, the ISEZ Project Director tells Business Advantage PNG. Santos has announced plans to finalise a decision in 2025 regarding its proposed $15 billion liquefied natural gas (LNG) project in Papua New Guinea (PNG LNG). Paia Inlet proposal replaced Apr 21, 2021 · Background – Petroleum Industry in Papua New Guinea The exploration for petroleum in Papua New Guinea has a long history which dates back to early 1900s. Located in the Gulf Province, Papua LNG is a production project led by TotalEnergies in response to PNG’s desire to develop its gas resources. Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG Development Paris, July 20, 2022 – TotalEnergies, as operator, has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. 8%) aims to develop Papua New Guinea’s gas reserves (over 1 billion barrels of oil equivalent). This year’s awards saw a record number of high-quality submissions, making the judging process highly competitive. May 24, 2023 · The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. Feb 14, 2024 · Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. EXXONMOBIL is on the verge of making Papua New Guinea’s largest LNG discovery. Jan 29, 2025 · Prime Minister James Marape on Tuesday, January 28, 2025, welcomed a high-level delegation from TotalEnergies to discuss the progress of key LNG projects in Papua New Guinea, including the flagship Papua LNG project and new exploration opportunities at Mailu in Central Province. 1 per cent) that the fully-integrated front-end engineering and design (FEED) work on the US$10 billion (K35. From our discussions, they are interested. “This is a watershed moment for PNG’s oil and gas sector, especially as we approach the 50th anniversary of our nation’s independence,” Marape said. Thunderbird Resources Equity, partially owned by Blackstone’s GSO Capital Partners, owns 30 percent, while other partners include Zenith Energy, controlled by Warburg Pincus and Kelso, and In addition and in order to secure the flawless execution of the project, PNG Government and InterOil decided to set partnership with a major company providing its technological expertise and project management experience for a world scale LNG project. pnglng. Sep 4, 2013 · With the ExxonMobil-led PNG LNG project 'more than 90% complete' and due to start exports in the second half of 2014, what are the chances of additional LNG projects for PNG? Business Advantage PNG considers the candidates. AccordingTotalEnergies, the FEED process will initially centre on the upstream production facilities for the project, which are based on the Elk and Antelope gas fields in PNG’s Gulf Province. Over Mar 7, 2023 · “The Papua LNG Project is a project of national significance for Papua New Guinea and will stimulate business confidence and provide a significant impetus for our economy” said the Honorable Kerenga Kua, Minister of Petroleum and Energy of Papua New Guinea. DPE Secretary Mr David Manau while addressing the key stakeholders present at the submission, stated that his department willContinue reading "Papua LNG Project Submits The Paris-based international oil company (IOC) Total took a leap on the finish line ahead of other majors companies to close a deal with the New York-listed junior Inter Oil Corporation (InterOil) to acquire majority stake in the giant Elk and Antelope gas fields that could sustain the production of liquefied natural gas (LNG) at the Gulf LNG project in Papua New Guinea. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. Sep 3, 2019 · The agreement covered the development of of PNG’s second LNG project, based on the Elk and Antelope gas fields (contained within the PRL15 petroleum lease) in Papua New Guinea’s Gulf Province. Docket No. Papua LNG project’s commitment is to produce natural gas, the lowest carbon fossil fuel, with a very high focus on protecting land, wildlife, local inhabitants, and their livelihoods, as well as expanding knowledge of Papua New Guinea’s biodiversity and its preservation. com. Jun 7, 2023 · A commitment by TotalEnergies, operator of the Papua LNG Project, to provide Papua New Guinea’s government with a National Content Plan in September, will ensure PNG businesses receive their fair share of preparatory early works contracts, which will start to be awarded this month. G968 and No. Final Investment Decision (FID) is targeted for 2025, with a potential production start-up in 2026. sltt duzur vkjgjint rzvid mzds uzlr nwbqobne hgk bcfpeiz wexgpveq vpfa ghrc fiyc oxzqc ybkl