Hmmm
OSH is only showing 505 MMBOE for the PNG-LNG project.
(Reserves)
They also mention that the PNG-LNG project is a 30 year 9T production goal. (2 Trains)
505 MMBOE only equals 3T.
OSH has one gas field and 20% project gas comes from their oil fields... probably re-injected gas.
Where is the rest coming from?
Off Shore ... looks like Total's back yard.
So... is IOC the back stop if OSH drills and misses?
Hmmmm
Well, I guess Rex can &%?! in 1 hand and in the other hope OSH can find 9 more Ts. We know which fils up first.
1 Tcf produce 21.25 MT
Ping Ding needs 12.7 Tcf for 270 MT LNG
......and then there are expansion aspirations.
I'd say they maybe can't depend on OSH. It has always made most sense for XOM to pay Phil's price.
Ok, so XOM sold contacts for 6.5 MTPA. So the PNG LNG Project as stands a production reserve for 10 years 8 months.
I think they are a bit short on expansion and the 30 year plan.
