PNG 'Strongly Support' a new Strategic Partner

[Tree]

PNG govt would ‘strongly support’ another LNG multinational

Alison Middleton Wednesday, 11 December 2013 THE Papua New Guinean government says it will strongly support the introduction of a multinational oil and gas entry to assist with the development of the Elk-Antelope gas fields. Wahoo-1 amid InterOil's licence portfolio in PNG. PNG Petroleum and Energy Minister William Duma made the announcement as he welcomed the joint venture partnership between InterOil and Total following long, drawn-out commercialisation talks. InterOil has agreed to sell Total a gross 61.3% interest in petroleum retention licence 15, which contains the Elk-Antelope gas fields and granted Total an exclusive right to negotiate a farm-in to all its exploration licences in PNG. “This is an exciting day for Papua New Guinea and marks the first step on the road to that development of the second LNG project in PNG,” Duma said. “The PNG government welcomes this additional foreign investment in the growing PNG industry in this country and is particularly pleased by the diversity that this announcement represents. “In a similar fashion, we note with interest the parties’ intention of bringing in a new strategic partner into PNG. “The government would strongly support the introduction of a new multinational oil and gas entry into PNG to assist with the development of Elk-Antelope and to further confirm that PNG is well and truly open for new business. “Strengthening competition of the LNG sector in this great resource-rich country is high on our government’s agenda.” Duma said InterOil had a long and successful record of investment in exploration in PNG. “Given that InterOil has introduced a world-class partner to ensure development of its discovered resource, it is our intention to encourage InterOil and assist it where possible in positively dealing with exploration licences,” he added. InterOil’s shares plummeted 37% to $US55.50 on the New York Stock Exchange following the announcement of the deal with Total. They were last trading at $58.22.

[Palm]

"“In a similar fashion, we note with interest the parties’ intention of bringing in a new strategic partner into PNG.
“The government would strongly support the introduction of a new multinational oil and gas entry into PNG to assist with the development of Elk-Antelope and to further confirm that PNG is well and truly open for new business."

Very interesting that Duma/the government is mentioning this. From this statement it sounds as if it is other than OSH. States it as if it is someone currently not in PNG. Several very interesting names come to mind.

[jft310]

The Japanese and Pertimina come to mind,Kogas and more

[Palm]

Quite a number of great candidates. And with so much prelim work and a PDL application that's been in process for quite some time, the gov opt-in might not be far off and a strategic is to be brought in before the opt-in.