Optimism over project

Business, Normal

The National, Wednesday July 22nd, 2015

 PAPUA LNG project has the potential to improve the economic opportunities for the people in Gulf, Oil Search managing director Peter Botten says.

Botten said the project, once developed would have an impact on the country’s gross domestic product and export revenues would be similar to the PNG LNG project.

Papua LNG formerly known as Elk/Antelope, which is operated by Total S.A. and includes InterOil and Oil Search, will have its central processing facility near the Purari River in Gulf.

Botten said that developing the Papua LNG project was one of company’s highest priority.

 “After an extensive study lasting more than 12 months, led by Total SA, the PRL 15 Joint Venture recently unanimously agreed on the locations for the Central Processing Facility (CPF), pipeline routes and LNG plant site for the proposed 

Elk-Antelope development (to be named the Papua LNG Project),” he said.

“Caution Bay was selected as the most suitable location for the LNG plant due to the availability of a large area of state land, comparable in size to the PNG LNG project site, with favourable sea and coastal conditions for ship loading and no requirement to build a breakwater. 

“Its easy access and close proximity to Port Moresby will facilitate materials and personnel logistics, while its location adjacent to the PNG LNG project site will allow for potential synergies during the construction and operations phases, which will enhance the value of the development for all stakeholders.

“The Papua LNG project has the potential to have a similar impact on PNG’s gross domestic product and export revenues as the PNG LNG project. 

“This would result in a significant boost to economic activity and opportunities for the people of PNG, particularly in the Gulf, where the wells, onshore pipeline and CPF are located.”