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Potape updates

July 27th, 2011 · No Comments

Well, we see some wiggle room..


From the PostCourrier, 27/7/2011
Potape’s updates on LNG

Moves are afoot to make sure the multi billion kina LNG project and other various resource projects become a reality in Papua New Guinea.
Member for Komo Magarima and newly appointed Minister for Petroluem and Energy Francis Potape is steadfast to make sure the LNG project is on par with the developer Exxon Mobil’s schedule to deliver the first gas in 2015.

Minister Potape said this during his presentation to the forum last week Friday, updating the Government on LNG and plans to fast tract agreements that have yet to be enforced. “The LNG project is running withing the funding frame. “And I as the Minister for Petroleum and Energy will closely work with the developer,” Mr Potape said.

He highlighted that there are issues but stressed that patience was need to address these issues. He said the issues were project delays – landowner issues. He said because of this 30 per cent of work time has been lost. But he assured the Government and developer that he would address these issues.
“To address this, I have set up a Government team to be delployed at the LNG site to hear the landowner’s grievances.

“It is a must that a Government team must be deployed so that we can get somewhere to address there issues,” he said. Minister Potape’s move was to fast-track what the Government has agreed in 2009 – deploying a government team on the site.

The minister also shared some light on the other LNG project the Elk antelope LNG project which the developer is InterOil. He said the State as the regulator was keen to seen this project take off. “I have meet with the executives in Singopore and InterOil has been informed. “First things first, and as per the project agreement signed in 2009, the developer, InterOil must meet two key critierias. The two key elements are;

  1. Interoil to hire a World Class Operator; and
  2. InterOil to use approved technology.

Minister Potape said two and a half years have gone since the signing of the project agreement but nothing has been done yet on the project.
“I have informed InterOil and I will fast track and make sure there agreements are met as per the project agreement.

Tags: IOC