Palm, I'm now hearing that the Platts article is at least a little misleading, and we can still expect a separate next event of NEC approval of the modified PA, which should come any day, simply dependent upon NEC short-term agenda timing. That would be followed by finalization of partner selection, sell down agreement, FID plans and action, etc.
I understand reaching DMO (Domestic Market Obligation) arrangements with the government should not slow any of it, and providing that by selling that or from the government's portion is a plus for IOC as well as the government. Power shortages and blackouts in Port Moresby is a serious problem for the government, and help from IOC's project would a big help for them and a strong incentive to move things along. Personally, it also seems to me that that issue increases the likelihood of involvement in the project in some manner and extent by EWC, part of whose business is building and operating power plants. That would really be ironic.
Also, as someone mentioned last week, I believe the secured financing is basically a done deal and should be announced literally any day with completion of all the formalities.
I understand reaching DMO (Domestic Market Obligation) arrangements with the government should not slow any of it, and providing that by selling that or from the government's portion is a plus for IOC as well as the government. Power shortages and blackouts in Port Moresby is a serious problem for the government, and help from IOC's project would a big help for them and a strong incentive to move things along. Personally, it also seems to me that that issue increases the likelihood of involvement in the project in some manner and extent by EWC, part of whose business is building and operating power plants. That would really be ironic.
Also, as someone mentioned last week, I believe the secured financing is basically a done deal and should be announced literally any day with completion of all the formalities.