PAPUA New Guinea's first liquefied natural gas cargo is expected to leave from near Port Moresby in the next four months, with the $US19 billion ($20.9bn) PNG LNG project set to perform a rare regional feat by coming on stream ahead of schedule.

The Exxon Mobil-run project, which would process gas from a gasfield in PNG's Southern Highlands, would ship first exports midyear, Exxon chief Rex Tillerson said.
This brings forward targets for third-quarter shipments restated by Exxon's Australian-listed partners Oil Search and Santos last month.
"Despite the many challenges, the project is actually progressing a few months ahead of schedule, the first cargo delivery in the middle of this year," Mr Tillerson told analysts in the US.
"It looks like it's probably going to start off early relative to what we had planned - just a superb job of execution by the project team there in an extraordinarily difficult environment."
The project, whose cost has blown out by $US3bn from the original budget, plans to export nine trillion cubic feet of gas that will be piped from a well pad nearly 3000m above sea level.
A 700km pipeline carries the gas through mountainous jungle to the LNG plant at sea level near Port Moresby.
"Installation was accomplished here while overcoming flooding, volcanic soil conditions and steep pinnacle reef slopes," Mr Tillerson said.
"Pipes had to be airlifted by helicopter, as the soil cannot support heavy machinery or the transportation loads of trucks. This was no easy task, as we were talking about enough steel to build 20 Eiffel Towers."
Santos narrowed the timetable down even further, saying in an insurance document posted on its website last week that the first cargo was scheduled for July 1.
The start of the project will bring a rush of cashflow for Oil Search, which owns 29 per cent of the project, and Santos, which owns 13.5 per cent.
With PNG LNG looking on track, attention has turned to expansion of the two-train project, with a battle for PNG's biggest unassigned gas resource playing out in the background.
Mr Tillerson said a third train was being looked at and there was space at the Port Moresby site for third and fourth trains.
He did not mention the Elk and Antelope fields controlled by Houston-based InterOil that are the best bet to support the third train.
Oil Search last week agreed to pay $US900m to take a 23 per cent stake in the field that also gives it pre-emptive rights over an up to $US3.5bn purchase of a 62 per cent stake in the field held by France's Total.
Oil Search's move could bring Exxon, which was unsuccessful in striking a deal with InterOil last year, back into contention.
Oil Search and its soon-to-be significant shareholder, the PNG government, are keen to use the existing PNG LNG plant site to speed development of Elk and Antelope.
Elsewhere, Mr Tillerson said a floating LNG plant remained the lead option for the offshore Scarborough field in Western Australia. Exxon's partner BHP Billiton has called for investigation into sending gas to the North West Shelf LNG plant when its reserves run low.

'cybersssss' pid='38915' datel Wrote:From The Australian - Today

PAPUA New Guinea's first liquefied natural gas cargo is expected to leave from near Port Moresby in the next four months, with the $US19 billion ($20.9bn) PNG LNG project set to perform a rare regional feat by coming on stream ahead of schedule.

The Exxon Mobil-run project, which would process gas from a gasfield in PNG's Southern Highlands, would ship first exports midyear, Exxon chief Rex Tillerson said.
This brings forward targets for third-quarter shipments restated by Exxon's Australian-listed partners Oil Search and Santos last month.
"Despite the many challenges, the project is actually progressing a few months ahead of schedule, the first cargo delivery in the middle of this year," Mr Tillerson told analysts in the US.
"It looks like it's probably going to start off early relative to what we had planned - just a superb job of execution by the project team there in an extraordinarily difficult environment."
The project, whose cost has blown out by $US3bn from the original budget, plans to export nine trillion cubic feet of gas that will be piped from a well pad nearly 3000m above sea level.
A 700km pipeline carries the gas through mountainous jungle to the LNG plant at sea level near Port Moresby.
"Installation was accomplished here while overcoming flooding, volcanic soil conditions
"Pipes had to be airlifted by helicopter, as the soil cannot support heavy machinery or the transportation loads of trucks. This was no easy task, as we were talking about enough steel to build 20 Eiffel Towers."
Santos narrowed the timetable down even further, saying in an insurance document posted on its website last week that the first cargo was scheduled for July 1.
The start of the project will bring a rush of cashflow for Oil Search, which owns 29 per cent of the project, and Santos, which owns 13.5 per cent.
With PNG LNG looking on track, attention has turned to expansion of the two-train project, with a battle for PNG's biggest unassigned gas resource playing out in the background.
Mr Tillerson said a third train was being looked at and there was space at the Port Moresby site for third and fourth trains.
He did not mention the Elk and Antelope fields controlled by Houston-based InterOil that are the best bet to support the third train.
Oil Search last week agreed to pay $US900m to take a 23 per cent stake in the field that also gives it pre-emptive rights over an up to $US3.5bn purchase of a 62 per cent stake in the field held by France's Total.
Oil Search's move could bring Exxon, which was unsuccessful in striking a deal with InterOil last year, back into contention.
Oil Search and its soon-to-be significant shareholder, the PNG government, are keen to use the existing PNG LNG plant site to speed development of Elk and Antelope.
Elsewhere, Mr Tillerson said a floating LNG plant remained the lead option for the offshore Scarborough field in Western Australia. Exxon's partner BHP Billiton has called for investigation into sending gas to the North West Shelf LNG plant when its reserves run low.

"... and steep pinnacle reef slopes."

My my... nice to see pinnacle reef.  Bet Rex has a clear idea what those are.  Any more in the area?  Make for great traps of Oil and Gas

" border="0" class="smilie" src="images/smilies/shy.gif" />

'Tusker' pid='38943' datel Wrote:

'cybersssss' pid='38915' datel Wrote:From The Australian - Today

PAPUA New Guinea's first liquefied natural gas cargo is expected to leave from near Port Moresby in the next four months, with the $US19 billion ($20.9bn) PNG LNG project set to perform a rare regional feat by coming on stream ahead of schedule.

The Exxon Mobil-run project, which would process gas from a gasfield in PNG's Southern Highlands, would ship first exports midyear, Exxon chief Rex Tillerson said.
This brings forward targets for third-quarter shipments restated by Exxon's Australian-listed partners Oil Search and Santos last month.
"Despite the many challenges, the project is actually progressing a few months ahead of schedule, the first cargo delivery in the middle of this year," Mr Tillerson told analysts in the US.
"It looks like it's probably going to start off early relative to what we had planned - just a superb job of execution by the project team there in an extraordinarily difficult environment."
The project, whose cost has blown out by $US3bn from the original budget, plans to export nine trillion cubic feet of gas that will be piped from a well pad nearly 3000m above sea level.
A 700km pipeline carries the gas through mountainous jungle to the LNG plant at sea level near Port Moresby.
"Installation was accomplished here while overcoming flooding, volcanic soil conditions
"Pipes had to be airlifted by helicopter, as the soil cannot support heavy machinery or the transportation loads of trucks. This was no easy task, as we were talking about enough steel to build 20 Eiffel Towers."
Santos narrowed the timetable down even further, saying in an insurance document posted on its website last week that the first cargo was scheduled for July 1.
The start of the project will bring a rush of cashflow for Oil Search, which owns 29 per cent of the project, and Santos, which owns 13.5 per cent.
With PNG LNG looking on track, attention has turned to expansion of the two-train project, with a battle for PNG's biggest unassigned gas resource playing out in the background.
Mr Tillerson said a third train was being looked at and there was space at the Port Moresby site for third and fourth trains.
He did not mention the Elk and Antelope fields controlled by Houston-based InterOil that are the best bet to support the third train.
Oil Search last week agreed to pay $US900m to take a 23 per cent stake in the field that also gives it pre-emptive rights over an up to $US3.5bn purchase of a 62 per cent stake in the field held by France's Total.
Oil Search's move could bring Exxon, which was unsuccessful in striking a deal with InterOil last year, back into contention.
Oil Search and its soon-to-be significant shareholder, the PNG government, are keen to use the existing PNG LNG plant site to speed development of Elk and Antelope.
Elsewhere, Mr Tillerson said a floating LNG plant remained the lead option for the offshore Scarborough field in Western Australia. Exxon's partner BHP Billiton has called for investigation into sending gas to the North West Shelf LNG plant when its reserves run low.

"... and steep pinnacle reef slopes."

My my... nice to see pinnacle reef.  Bet Rex has a clear idea what those are.  Any more in the area?  Make for great traps of Oil and Gas

" border="0" class="smilie" src="images/smilies/shy.gif" />

Sorry... Rex comments keep coming back to me.

Listen to the print.  These words are not "canned" "... superb performance" with mention of specific geological characteristics.  Sure is a lot of steam in the stride of those words.

So... Rex from Tx whom knows and is informed about geological structures makes specific mention of pinnacle reefs (pural).  Now speaking as to where these were found I guess somewhere along a above sea 10- 20 foot deep trench the pipeline was dropped into.

Now where along that pipeline did those steep reef slopes did the pinnacles show up?  1000m - 2000m above sea level?

So southeast to northwest.... atol reefs....barrier reefs....patch reefs...fringe reefs...pinnacle reefs.  Looks marine a bit?

To me, this is additional insight that the trend we are exploring is indictive of a large ancient inland sea that has been folded and thrust up.

Very exciting times for IOC participants

Cheers

Tusker

Tusker- As I have previously written they think the reefs 2 so far confirmed by drilling were as you and I say the ancient shores

which bodes well for finding more reefs and more assets. Explains why we drill 8 wells over the next 12-15 months . See the

comment about a possible second OSH rig above.That gets us to 5 rigs . It's all working

'jft310' pid='39075' datel Wrote:

Tusker- As I have previously written they think the reefs 2 so far confirmed by drilling were as you and I say the ancient shores

which bodes well for finding more reefs and more assets. Explains why we drill 8 wells over the next 12-15 months . See the

comment about a possible second OSH rig above.That gets us to 5 rigs . It's all working

Yes... bodes well with many wells.

Above ground...below ground... and on the ground.

Bandwidth of optics.

" border="0" class="smilie" src="images/smilies/cool.gif" />

'jft310' pid='39075' datel Wrote:

Tusker- As I have previously written they think the reefs 2 so far confirmed by drilling were as you and I say the ancient shores

which bodes well for finding more reefs and more assets. Explains why we drill 8 wells over the next 12-15 months . See the

comment about a possible second OSH rig above.That gets us to 5 rigs . It's all working

jft, where is that comment about a second OSH rig?

Not on this page Getit . But you can find it.

(03-13-2014, 10:49 AM)jft310 Wrote:

Not on this page Getit . But you can find it.

I believe the second rig is from someone's misread of a statement they saw somewhere and through its repetition the second rig statement has been established as true in some people's minds..  I've never seen an authoritative reference to two rigs and I try to keep up with most threads.  I suspect the original statement might be something like what came out of Goldman Sachs: "Oil Search has contracted a rig to InterOil for two initial wells, with potential for two additional wells for its exploration/appraisal programme."  

Another one of these statements that keeps getting repeated but has no substance is the suggestion that OSH's rights to PRL15 are customary which in some way gives OSH an option to buy out Total and control the whole of PRL15.  Where THAT one came from and why anyone would repeat something so illogical without a confirming authoritative reference is beyond me. 

One rig can't drill 4 wells in 12-15 months.