01-30-2014, 09:48 PM
The development forum is extremely important. Not everybody understood why Total wants to take the final decision to proceed in 2015/2016. Also it is not clear which role the PNG government will play in the project. According to the Project Agreement they can acquire upto 50% of the ownership in the JVOA partly against commercial terms.
May be IOC would prefer that PNG becomes a 20% shareholder of IOC instead of above ownership in the JVOA. This would give more stability to the shareprice and would give more assurance to the other shareholders who opt for the long run. Statoil in Norway is a good example. A good move has been the office removal to PM. This can be seen as a token to the PNG government that IOC is strongly linked to PNG.
May be IOC would prefer that PNG becomes a 20% shareholder of IOC instead of above ownership in the JVOA. This would give more stability to the shareprice and would give more assurance to the other shareholders who opt for the long run. Statoil in Norway is a good example. A good move has been the office removal to PM. This can be seen as a token to the PNG government that IOC is strongly linked to PNG.