Feed studies good sign for PNG: Sonk

THE decision by TotalEnergies and its partners to launch the front-end engineering and design (Feed) studies for upstream production facilities is a good sign for PNG, an official says.
Kumul Petroleum Holdings Ltd (KPHL) managing director Wapu Sonk said: “As a potential co-venturer in this LNG project, we are glad that this decision was made by TotalEnergies and its partners.
The studies are for upstream production facilities on the 5.4 Mt/year liquefied natural gas (LNG) project that the company is the operator of.
Sonk said studies for the downstream liquefaction facilities were also progressing in line with the overall project schedule.
The objective is to launch the integrated Feed in the last quarter of this year.
“The project is targeting a final investment decision (FID) around the end of 2023, which will enable project construction to commence, leading to a projected project start-up at the end of 2027.”
As the national petroleum company, he said KPHL would be exercising its right to take up to 22.5 per cent equity in project, and join partners TotalEnergies, ExxonMobil and Santos.
“We have seen the many benefits that have come about as a result of the ExxonMobil led PNG LNG project,” Sonk said.
“I foresee that the lessons learned from that project will enable all Papua New Guinea stakeholders to maximise their various benefits from the Papua LNG development.
“The Papua LNG construction will have large multiplier effects in the economy.
“The decision by Papua LNG to enter Feed would benefit many stakeholders since after the completion of an estimated four years of construction, the plan is to then start the construction of the P’nyang LNG Project, which will take another three-four years to construct.”