PNG Stands By Papua LNG Deal

The Papua New Guinea government said September 3 it will stand by the Papua LNG gas agreement which was  signed by the previous Papua New Guinea government and the French Total-led PRL 15 joint venture, Oil Search said, citing a statement by PNG petroleum minister Kerenga Kua.

Kua said that the government had cleared Total, the Papua LNG project operator, to proceed ‘full steam ahead’ with the implementation of the project. The minister also said it was the government’s position that the Papua LNG project be allowed to proceed in accordance with the terms of the gas agreement.

Oil Search CEO Peter Botten said the company was pleased that the government had completed their review and has endorsed the gas agreement. “We are pleased that the PNG cabinet (National Executive Council), has completed its review of the Papua LNG gas agreement and has validated the agreement as executed on 9 April 2019,” Botten said.

The PRL 15 joint venture, consisting of Total, ExxonMobil and Oil Search, will work collaboratively with the government on finalising the National Content Plan for the Papua LNG project, Oil Search said.

Oil Search said it will now focus its attention on working with all relevant parties to close out an agreement for the development of the P’nyang gas field and commencement of Feed-related activities for the proposed three-train integrated development, including Feed for the Associated Gas Expansion project.