Horizon Oil clears concerns raised by minister’s notice to ‘cancel licence’

Horizon Oil is aware of comments made on social media that (petroleum development licence) PDL 10 in Western has been cancelled.
PDL 10 is the development licence for the Stanley Field, which constitutes approximately 20 per cent of the resource volume that will supply the proposed Western LNG project.
Horizon Oil has a 30 per cent participating interest in PDL 10.
“The PDL 10 joint venture received a document titled ‘Notice of Intention to cancel Petroleum Development License 10 and Pipeline License 10’ signed by the Petroleum Minister Dr Fabian Pok (Purported Notice),” Horizon Oil said in a statement.
“The purported notice invited the joint venture participants to make submissions as to why the licence should not be cancelled for a purported failure to construct, commission and commence production operations, to which submissions were made.
“Spanish global energy company, Repsol, as operator of PDL 10, has advised that the purported notice is procedurally invalid.
“Horizon Oil has independently formed the view that the purported notice is procedurally invalid.
“The PDL 10 joint venture participants have also formed the view that the minister has no substantive basis to cancel the licence for the reasons set out in the purported notice.
“The minister convened a meeting with all of the PDL 10 participants to review progress on development planning for PDL 10.
“The PDL 10 joint venture participants have committed to provide a further presentation to him on the status of development plans for PDL 10 and the broader Western gas
aggregation scheme before Oct 1, 2018.
“The minister has confirmed that no action would be taken in respect of PDL 10 pending that further presentation.”