Paucity of FLNGs - Tree - 04-05-2013
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.
RE: Paucity of FLNGs - Tusker - 04-05-2013
'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.
RE: Paucity of FLNGs - Movieguy - 04-05-2013
'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?
RE: Paucity of FLNGs - Tusker - 04-05-2013
'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?
Having done trade business in Asia (KR) included, for some 30 plus years, I don't tune into re-runs.
Did not notice any strategic world class energy resources there either.
RE: Paucity of FLNGs - jft310 - 04-05-2013
Movieguy- This may not be the right stock for you. If you don't believe just sell and find a stock you do believe in. There are many institutions ready to buy your shares. Thats why their count has risen from under 45% of the total shares to 72% today total ownership.What do they know ??????They believe and add as they can. This time of the year funds get more assets as investors make their yearly contributions to their retiremen funds.
RE: Paucity of FLNGs - Movieguy - 04-05-2013
'jft310' pid='20136' datel Wrote:Movieguy- This may not be the right stock for you. If you don't believe just sell and find a stock you do believe in. There are many institutions ready to buy your shares. Thats why their count has risen from under 45% of the total shares to 72% today total ownership.What do they know ??????They believe and add as they can. This time of the year funds get more assets as investors make their yearly contributions to their retiremen funds.
I just thought that North Korea deserves honorable mention as a potential troublemaker in the area. I believe in IOC and will stay with them, but I don't believe it is wrong to bring up on this board potential problems, questions and concerns. Am I wrong in my thinking about what can be posted on this board? I post many positives, but I simply find the recent price action a concern.
RE: Paucity of FLNGs - jft310 - 04-05-2013
When theres a CA involved the shorts fill the news vacuum with nonsense. Scares some investors. Most likely someone is playing a game with the shorts. Keep lending them shares until IOC gets a deal and then call em back. I would think Fidelity would do that type thing. Its a bet thats high risk IMHO.
RE: Paucity of FLNGs - ellerslick - 04-05-2013
'Movieguy' pid='20149' datel Wrote:
'jft310' pid='20136' datel Wrote:Movieguy- This may not be the right stock for you. If you don't believe just sell and find a stock you do believe in. There are many institutions ready to buy your shares. Thats why their count has risen from under 45% of the total shares to 72% today total ownership.What do they know ??????They believe and add as they can. This time of the year funds get more assets as investors make their yearly contributions to their retiremen funds.
I just thought that North Korea deserves honorable mention as a potential troublemaker in the area. I believe in IOC and will stay with them, but I don't believe it is wrong to bring up on this board potential problems, questions and concerns. Am I wrong in my thinking about what can be posted on this board? I post many positives, but I simply find the recent price action a concern.
What you have to remember about funds is IOC represents just a fraction of what is owned in their portfolio. Whether up or down it represents just a little nudge on the rate of return for most of these big boys. I think it is a positive that they have accumulated and held. Please buy some more.
The company has more to believe in than most so stick tight.
I think most including myself would have a hard time quantifying what a North Korean war would mean to IOC and the broader market, obviously down except maybe the defense stocks. There are diplomatic efforts to reduce the tension underway and they have been known to use these tactics before. Like father like son.
RE: Paucity of FLNGs - Palm - 04-05-2013
"Diplomacy is the art of nations achieving their ends without resorting to war. It is particularly important for small, isolated nations to survive without going to war. As in many things, the paradox of appearing willing to go to war in spite of all rational calculations can be the foundation for avoiding war. It is a sound strategy, and for North Korea and Iran, for the time being at least, it has worked."
"Hence, we have North Korea's eternal nuclear program. It never quite produces a weapon, but no one can be sure whether a weapon might be produced. Due to widespread perceptions that the North Koreans are crazy, it is widely believed they might rush to complete their weapon and go to war at the slightest provocation. The result is the United States, Russia, China, Japan and South Korea holding meetings with North Korea to try to persuade it not to do something crazy.
Interestingly, North Korea never does anything significant and dangerous, or at least not dangerous enough to break the pattern. Since the Korean War, North Korea has carefully calculated its actions, timing them to avoid any move that could force a major reaction. We see this caution built into its nuclear program. After more than a decade of very public ferocity, the North Koreans have not come close to a deliverable weapon. But since if you upset them, they just might, the best bet has been to tread lightly and see if you can gently persuade them not to do something insane.
The North's positioning is superb: Minimal risky action sufficient to lend credibility to its ferocity and craziness plus endless rhetorical threats maneuvers North Korea into being a major global threat in the eyes of the great powers. Having won themselves this position, the North Koreans are not about to risk it, even if a 20-something leader is hurling threats."
China is a bigger concern than N Korea; how concerned are you that China will do something to derail IOC?
RE: Paucity of FLNGs - Movieguy - 04-05-2013
'Palm' pid='20152' datel Wrote:"Diplomacy is the art of nations achieving their ends without resorting to war. It is particularly important for small, isolated nations to survive without going to war. As in many things, the paradox of appearing willing to go to war in spite of all rational calculations can be the foundation for avoiding war. It is a sound strategy, and for North Korea and Iran, for the time being at least, it has worked." "Hence, we have North Korea's eternal nuclear program. It never quite produces a weapon, but no one can be sure whether a weapon might be produced. Due to widespread perceptions that the North Koreans are crazy, it is widely believed they might rush to complete their weapon and go to war at the slightest provocation. The result is the United States, Russia, China, Japan and South Korea holding meetings with North Korea to try to persuade it not to do something crazy. Interestingly, North Korea never does anything significant and dangerous, or at least not dangerous enough to break the pattern. Since the Korean War, North Korea has carefully calculated its actions, timing them to avoid any move that could force a major reaction. We see this caution built into its nuclear program. After more than a decade of very public ferocity, the North Koreans have not come close to a deliverable weapon. But since if you upset them, they just might, the best bet has been to tread lightly and see if you can gently persuade them not to do something insane. The North's positioning is superb: Minimal risky action sufficient to lend credibility to its ferocity and craziness plus endless rhetorical threats maneuvers North Korea into being a major global threat in the eyes of the great powers. Having won themselves this position, the North Koreans are not about to risk it, even if a 20-something leader is hurling threats." China is a bigger concern than N Korea; how concerned are you that China will do something to derail IOC?
Why would China wish to derail IOC? Doesn't China simply have a huge appetite for energy, so the more supply in the area the better?
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