08-01-2013, 11:31 AM
So we hear about widespread corruption in DPE and Duma comes out firing. Says "The State" is giving IOC 180 days "to prove its worth". Haven't we heard this tune before? Oh yeah, when Operation Zebra was launched. Sigh.........
GULF LNG: INTEROIL GIVEN 180 DAYS TO PROVE ITS WORTH
on Thursday, 01 August 2013. Posted in PNG Resource News, News
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The state has given InterOil 180 days to prove its worth to develop the Elk and Antelope gas fields’ in Gulf.
The Elk and Antelope gas fields are in the Baimuru district of the Gulf Province. These reserves are host to the second PNG LNG project. Work is underway and a developer has yet to be confirmed.
The provincial government has raised serious concerns about the current developer - InterOil.
It claimed InterOil has failed to honour its commitments to the project and honour the MoA it signed with the state in December 2009 to make a final investment decision by the 24th of June 2013.
Minister Duma said the current developer has been given 180 days that is up to December to give a detailed account on their position.
“They were expected by the government to ensure that whatever arrangement or structure they agree upon must be in line with the specifications,” said Minister Duma.
Minister Duma has received the provincial government’s proposition paper on the Gulf LNG.
The provincial government has urged the state to find a new developer.
Its political heads demanded maximum benefits from the LNG project for their people and province. The leaders also raised concerns about the InterOil / ExxonMobil partnership.
“We fear the danger of Monopoly by one LNG engage operator in the country and that we want to remind the state ‘that must be avoided as much as possible’.
Meantime, InterOil said at this time, all parties including the State continue to hold constructive dialogue on development options for the Elk / Antelope gas resource.
A detailed report on this issue is expected soon."