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. The focus has shifted...
Santos refers to its announcement of 27 September 2022 regarding the binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a five per cent interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of PNG LNG project finance debt of approximately US$0.3 billion (the Offer). On 23 December 2022, Kumu...
Santos achieved a new production, revenue, and underlying profit record in the last financial year. According to Kevin Gallagher, Managing Director, and CEO, these results were driven by strong customer demand and higher commodity prices. During the recent annual general meeting, Gallagher emphasized that 2022 was the first full-year period after the merg...
Photo: 3D visualisation of the Pasca A carbonate reef. Credit: Twinza Oil Twinza is pleased to announce that it has completed two new major reservoir assessments for the Pasca A field: An updated independent assessment of the Pasca A hydrocarbon resources has confirmed a total resource increase of 35%, and An independent assessment validates th...
Photo: Petroleum Minister Kerenga Kua Petroleum Minister Kerenga Kua has recently stated that the Papua LNG project is critical in addressing some of the economic challenges that are currently faced in the country. He said about K75 billion will be generated over a 15 year period when the project is in progress. He added that the initial stages of the ...
Papua New Guinea (PNG) is poised to supply Taiwan with its liquefied natural gas (LNG) as the latter phases out nuclear power plants by the end of 2025. With Taiwan's demand for energy expected to increase during its transition to renewable power capacity, PNG is set to become a crucial supplier of LNG and raw materials, which will create job opportunitie...
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) fo...
Santos recently 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. 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. Following pre-FEED...
Photo: Petroleum Minister Hon. Kerenga Kua, PM Marape and TotalEnergies Senior VP Asia Pacific Exploration & Production Julien Pouget at the launching.-PM’s Office Media TotalEnergies, operator of the project, announces the launch of the fully integrated Front-End Engineering and Design (FEED) for the Papua LNG project. Following pre-FEED studie...
Photo: An empty service station at 8-Mile in Port Moresby after the fuel bowsers ran dry. The Government is now in serious discussions with Kumul Petroleum Holdings Ltd (KPHL) and three multi-national petroleum companies to find solutions for the fuel shortage in the country, with a major announcement expected soon, Prime Minister Hon. James Marape has...
Photo credit: Twinza Oil Regulatory issues between the Government and Twinza Oil Ltd. need to be addressed before discussions on the Pasca A project in Gulf recommence, Prime Minister James Marape said. In a press conference, Marape stated that Papua New Guinea is governed by the Constitution, and there are laws that regulate the mining and explorat...
Photo credit: PNG LNG The PNG LNG project has generated K16.5 billion for the state over eight years of production (2014-2022). This includes K7.5 billion to Kumul from the state's 19.4% equity, K1.3 billion paid to the Mineral Resources Development Corporation, K0.8 billion in royalty payments, K0.7 billion in development levy payments, and K6.2 billi...
Photo: Santos Managing Director and Chief Executive Officer Kevin Gallagher. Photo credit: Attila Csaszar Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record annual production and sales revenue in 2022, as strong base business performance positioned the company to benefit from higher commodity prices. Fr...
Prime Minister Hon. James Marape says Puma Energy has said they replied to Bank of Papua New Guinea’s (BPNG) 13 queries in relation to supply of foreign exchange (FX), but is still in court in a BPNG initiated court proceeding. He said this resulted in Puma stopping its supply of aviation gasoline to Air Niugini, because it could not get the required F...
Photo credit: Santos - Brett Darley PNG will continue to be a major focus of strategy as Santos works to decarbonize operations, according to the upstream chief of Santos. Santos president of Upstream Oil and Gas, Brett Darley, stated that Santos is still eager to keep that region as its primary investment priority. “More broadly as a company, Sa...
Before we end the year, let us have a recap of Twinza Oil Limited’s presentation during the 2021 PNG Mining and Petroleum Conference and Exhibition. Although the report was presented a year ago, (2 December 2021), Twinza’s Executive Chairman, Stephen Quantrill, provided a remarkable forecast and insights on how their Pasca A Development Project will boost...
Follow on LinkedIn:
Be the "First" to get our exclusive Digital Magazine & Weekly Newsletter.
Our website uses cookies. By continuing to use this website, you are providing consent to our use of cookies.