'ArtM72' pid='26646' dateline='<a href="tel:1375751 Wrote:and then O'Neill said "Taureka has taken a top job with Interoil, which controls access to large reserves of gas in the Gulf province and which is likely to provide the resource for one of those further PNG LNG trains." ONE, not three. Not that I'm a future thinker, but I'd suggest there is more than enough gas on the Gulf of Papua's adjacent provinces to handle 30 MTPA. Maybe so, maybe not, but odds are pretty favorable that Triceratops alone could match the E/A resource. Do you think XOM is buying up properties with low chances of finding hydrocarbons? Anybody seriously consider whether Duma in fact works for the Wall Street shorts or those Aussie gas interests that will do anything to keep cheap PNG gas off the market? Maybe he's even kowman over at IV.
Art,
What I believe is that Exxon understands that it's in the catbird seat because they did what they said they'd do. That means a lot as many companies over the years have promised the world to PNG, but Exxon has delivered on the most important project in PNGs history. They've obviously parlayed that into a good bit of trust with O'Neill and parliament. That's one reason Duma is in big trouble; he's on the outside and can't even see in. Exxon is using this time to tie up everything they can in PNG; IMHO that includes IOC's resources and prospects. Exxon has said that PNG is their top priority for its Asian petroleum/LNG future. A company that says that focuses major efforts and assets in that direction. I believe that Exxon is doing just that. For that reason it's near impossible the say at this point whether IOC will be part of just one train. But today that's the line. Exxon will explore like no company has ever done in PNG and whatever proves up the fastest will be utilized for PNG LNG expansion and/or additional plants. If they are talking 5 trains for PNG LNG and "one" will be provided by IOC, then that's very good. But it's crazy to assume that is all that's possible. As you say, with the resources IOC has and no one else even close, that could easily expand beyond that one.