'Tusker' pid='20130' datel Wrote:

'Tree' pid='20127' datel Wrote:

Now, Why is Phil Speaking on FLNG's at FLNG Conference in June?:

http://www.flngsummit.com/Speakers.aspx

Henry always said if a FLNG was guaranteed to work and was a very good deal then a FLNG would just be 'Icing on the Cake'

**********

 13 December 2012 23:59 GMT

Papua New Guinea expects to have three producing liquefied natural gas projects before the end of this decade, and there is also potential for a floating LNG development, writes Russell Searancke .

The first LNG scheme is the $19 billion ExxonMobil-led PNG LNG project, which is 70% through the construction phase, and the second is the InterOil-led Gulf LNG project which is still some way from being sanctioned but has government support and, evidently, the reserves.

The government expects the third project to be a Talisman Energy-led development, and Talisman has confirmed it is building a gas resource of up to 4 trillion cubic feet to underpin an LNG train with a minimum capacity of 3 million tonnes per annum with first LNG in 2019.

FLNG is also on the cards, if an Oil Search-led joint venture that includes France’s Total has exploration drilling success next year in the Gulf of Papua.

Oil Search has a substantial multi-well campaign starting in the first quarter 2013 and says it would like to build a new LNG hub.

There is a second proposed FLNG project in the country led by national energy company Petromin with partners Hoegh LNG and Daewoo Shipbuilding & Marine Enegineering, but they have no confirmed feedstock gas.

*****

03 January 2013 23:59 GMT

State-owned energy company Petromin and a host of small companies have identified the potential of Papua New Guinea’s offshore basins.

Petromin is about five years old, and has never previously been an operator — instead it holds the state’s equity in a handful of petroleum projects and has been learning the ropes from its joint venture partners such as Oil Search, InterOil and Horizon Oil.

However, Petromin has now taken the plunge into a frontier area off the north-east coast called the New Ireland basin, where it is the operator of 10 exploration blocks, nine of which were awarded in 2012.

The company’s exploration manager Jack Sari says New ­Ireland is an under-explored Tertiary basin with high-risk high-reward opportunities.

Sari says the drivers for explor­ation in the New Ireland basin are the favourable tectonic setting, proven analogues in Japan, the Philippines and Indonesia, and high potential for reefs.

No well has ever been drilled in the basin, but old seismic data suggests thick sediments with the potential to generate and accumulate petroleum.

Petromin’s plan is to acquire new seismic within the next two years.

The company also has lodged applications for four offshore permits in the eastern Gulf of Papua, which is also an un­explored province. Petromin is not the only novice operator with offshore acreage.

Twinza Oil is a privately-run company with a 90% operating stake in Block PPL 328, which contains the old Pasca discovery.

Petromin owns the other 10% of PPL 328, and says the objective is to find out if there is sufficient gas and condensate left in Pasca, which had a blowout in 1983.

Australian publicly-listed company Coral Sea Petroleum is the operator of Block PPL 358 in the Cape Vogel basin, a lightly explored frontier basin where it says oil and gas seeps have been reported.

Coral says it is evaluating available data to determine if a viable petroleum system is present, and what additional data will need to be acquired to further quantify exploration risk.

Also in the Cape Vogel basin, two unknown companies, Hornby Energy and Penant Resources, each own one large permit — PPL 396 and 397, respectively.

Private company Rockwell Energy is the operator of blocks PPL 275 and 276 in the Gulf of Papua, although farm-in partner Oil Search has an option for an 80% operator interest in PPL 276.

A batch of 3D seismic was acquired in PPL 276 several years ago, and it is understood the recent Dima 3D seismic survey also covers PPL 276.

Privately owned Australian player Palmer Exploration owns 100% of three permits in the eastern Gulf of Papua called PPLs 379, 380 and 381.

Another unknown company, Gini Energy, owns two permits in the same eastern Gulf of Papua area called PPLs 374 and 375.

It remains to be seen whether any of these private companies has the intention of taking their acreage to the next level of maturity.

Potential is the operating word as XOM files paperwork with Australia's Enviromental Agency for the worlds largest FLNG off the coast of WA.  When a project of that scale taking a decade to produce, one should get its regulatory requirements done early.

It is the Asian Century... a future that is going to need energy with little geo-political risk.  Far removed from the coming Spring Storm in the ME.

Comfortable that my energy investment is far from the thunder of a Spring Storm.

Petitions,court cases, but recognition that the SM (XOM) is doing its best to meet LO issues. PNG is a workable enviroment... especially when you put both hands forward.

Tusker

'Movieguy' pid='20132' datel Wrote:

'Tusker' pid='20130' datel Wrote:

'Tree' pid='20127' datel Wrote:

Now, Why is Phil Speaking on FLNG's at FLNG Conference in June?:

http://www.flngsummit.com/Speakers.aspx

Henry always said if a FLNG was guaranteed to work and was a very good deal then a FLNG would just be 'Icing on the Cake'

**********

 13 December 2012 23:59 GMT

Papua New Guinea expects to have three producing liquefied natural gas projects before the end of this decade, and there is also potential for a floating LNG development, writes Russell Searancke .

The first LNG scheme is the $19 billion ExxonMobil-led PNG LNG project, which is 70% through the construction phase, and the second is the InterOil-led Gulf LNG project which is still some way from being sanctioned but has government support and, evidently, the reserves.

The government expects the third project to be a Talisman Energy-led development, and Talisman has confirmed it is building a gas resource of up to 4 trillion cubic feet to underpin an LNG train with a minimum capacity of 3 million tonnes per annum with first LNG in 2019.

FLNG is also on the cards, if an Oil Search-led joint venture that includes France’s Total has exploration drilling success next year in the Gulf of Papua.

Oil Search has a substantial multi-well campaign starting in the first quarter 2013 and says it would like to build a new LNG hub.

There is a second proposed FLNG project in the country led by national energy company Petromin with partners Hoegh LNG and Daewoo Shipbuilding & Marine Enegineering, but they have no confirmed feedstock gas.

*****

03 January 2013 23:59 GMT

State-owned energy company Petromin and a host of small companies have identified the potential of Papua New Guinea’s offshore basins.

Petromin is about five years old, and has never previously been an operator — instead it holds the state’s equity in a handful of petroleum projects and has been learning the ropes from its joint venture partners such as Oil Search, InterOil and Horizon Oil.

However, Petromin has now taken the plunge into a frontier area off the north-east coast called the New Ireland basin, where it is the operator of 10 exploration blocks, nine of which were awarded in 2012.

The company’s exploration manager Jack Sari says New ­Ireland is an under-explored Tertiary basin with high-risk high-reward opportunities.

Sari says the drivers for explor­ation in the New Ireland basin are the favourable tectonic setting, proven analogues in Japan, the Philippines and Indonesia, and high potential for reefs.

No well has ever been drilled in the basin, but old seismic data suggests thick sediments with the potential to generate and accumulate petroleum.

Petromin’s plan is to acquire new seismic within the next two years.

The company also has lodged applications for four offshore permits in the eastern Gulf of Papua, which is also an un­explored province. Petromin is not the only novice operator with offshore acreage.

Twinza Oil is a privately-run company with a 90% operating stake in Block PPL 328, which contains the old Pasca discovery.

Petromin owns the other 10% of PPL 328, and says the objective is to find out if there is sufficient gas and condensate left in Pasca, which had a blowout in 1983.

Australian publicly-listed company Coral Sea Petroleum is the operator of Block PPL 358 in the Cape Vogel basin, a lightly explored frontier basin where it says oil and gas seeps have been reported.

Coral says it is evaluating available data to determine if a viable petroleum system is present, and what additional data will need to be acquired to further quantify exploration risk.

Also in the Cape Vogel basin, two unknown companies, Hornby Energy and Penant Resources, each own one large permit — PPL 396 and 397, respectively.

Private company Rockwell Energy is the operator of blocks PPL 275 and 276 in the Gulf of Papua, although farm-in partner Oil Search has an option for an 80% operator interest in PPL 276.

A batch of 3D seismic was acquired in PPL 276 several years ago, and it is understood the recent Dima 3D seismic survey also covers PPL 276.

Privately owned Australian player Palmer Exploration owns 100% of three permits in the eastern Gulf of Papua called PPLs 379, 380 and 381.

Another unknown company, Gini Energy, owns two permits in the same eastern Gulf of Papua area called PPLs 374 and 375.

It remains to be seen whether any of these private companies has the intention of taking their acreage to the next level of maturity.

Potential is the operating word as XOM files paperwork with Australia's Enviromental Agency for the worlds largest FLNG off the coast of WA.  When a project of that scale taking a decade to produce, one should get its regulatory requirements done early.

It is the Asian Century... a future that is going to need energy with little geo-political risk.  Far removed from the coming Spring Storm in the ME.

Uhhh . . . North Korea?

Interesting times for storm watchers.

Cheers

Tusker