05-19-2017, 01:10 PM
Oil Search and partners ExxonMobil and Total SA are working to reach an agreement on a coordinated development of an LNG expansion involving both the Exxon-managed PNG LNG venture and Total's Elk-Antelope venture. Oil Search has a stake in both.
Mr Botten noted potential savings of $US2 billion to $US3 billion in investment required for gas processing and export through the cooperation, as well as operating cost savings of $US125 million a year.
The partners are aiming to finalise the design concept for the expansion before the year-end, before starting initial engineering and design work next year.
In addition to that expansion, which would involve two new LNG production trains about the same size as the existing PNG LNG units, Mr Botten also pointed to the opportunity for small-scale LNG based on smaller, undeveloped gas resources in the Gulf of Papua and Western Provinces.
Read more: http://www.afr.com/business/energy/oil/o...z4hUTYmzsn
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Mr Botten noted potential savings of $US2 billion to $US3 billion in investment required for gas processing and export through the cooperation, as well as operating cost savings of $US125 million a year.
The partners are aiming to finalise the design concept for the expansion before the year-end, before starting initial engineering and design work next year.
In addition to that expansion, which would involve two new LNG production trains about the same size as the existing PNG LNG units, Mr Botten also pointed to the opportunity for small-scale LNG based on smaller, undeveloped gas resources in the Gulf of Papua and Western Provinces.
Read more: http://www.afr.com/business/energy/oil/o...z4hUTYmzsn
Follow us: @FinancialReview on Twitter | financialreview on Facebook