02-22-2012, 01:24 AM
If one looks at OSH's website it's easy to see that their goals are very much about things beyond PNG LNG. I for one has always just focused on its activities regarding PNG LNG even though I knew that they had operations in other countries. Here is their Strategic Focus from their website:
"1.Optimising the value of the oil and gas operations through the pursuit of near field production opportunities, rigorous cost control and new developments while building long term operating capacity.
2.Maximising the value from the PNG LNG Project, including active management of in-country issues such as benefits distribution.
3.Promoting an early decision on a third LNG train based on existing PNG LNG Project fields and nearby structures.
4.Accumulating gas resources outside existing PNG LNG Project fields, to support a standalone LNG project.
5.Ensuring Oil Search’s sustainability, with an enhanced focus on managing operating risks, promoting transparency and improved external reporting.
6.Actively evaluating international growth opportunities, recognising any transaction must compete for funds with PNG expansion opportunities.
7.Optimising Oil Search’s financial and capital structure through to and beyond first LNG.
8.Aligning the Company to deliver this strategic plan.
A comprehensive plan comprising some 40 major work streams has been developed, which describe in detail what has to be done and in what timeframe. Oil Search’s focus in 2011 and beyond will be on implementing these work programmes to deliver the many value-creating initiatives identified by the Review."
#4 makes it very clear that they have teamed up with XOM for the PNG LNG project, but they have goals to be involved with another LNG project. Their main role in the PNG LNG project is:
"Oil Search will maintain its role as the Operator of the oil fields producing associated gas and the liquids export system."
So it makes sens that they would be seeking other partners for additional LNG plants within PNG. It also makes sense that XOM would look to become aligned with IOC to ensure they have the necessary gas. If it can be worked out, they might even join the JKM consortium. JAPEX and Kogas would gain an experienced operator, secure needed LNG, and XOM would gain its necessary gas for full expansion. And when 236 is ready for development, XOM already has their plant, and Napa Napa could be part of any expansion.
This dog could hunt.
"1.Optimising the value of the oil and gas operations through the pursuit of near field production opportunities, rigorous cost control and new developments while building long term operating capacity.
2.Maximising the value from the PNG LNG Project, including active management of in-country issues such as benefits distribution.
3.Promoting an early decision on a third LNG train based on existing PNG LNG Project fields and nearby structures.
4.Accumulating gas resources outside existing PNG LNG Project fields, to support a standalone LNG project.
5.Ensuring Oil Search’s sustainability, with an enhanced focus on managing operating risks, promoting transparency and improved external reporting.
6.Actively evaluating international growth opportunities, recognising any transaction must compete for funds with PNG expansion opportunities.
7.Optimising Oil Search’s financial and capital structure through to and beyond first LNG.
8.Aligning the Company to deliver this strategic plan.
A comprehensive plan comprising some 40 major work streams has been developed, which describe in detail what has to be done and in what timeframe. Oil Search’s focus in 2011 and beyond will be on implementing these work programmes to deliver the many value-creating initiatives identified by the Review."
#4 makes it very clear that they have teamed up with XOM for the PNG LNG project, but they have goals to be involved with another LNG project. Their main role in the PNG LNG project is:
"Oil Search will maintain its role as the Operator of the oil fields producing associated gas and the liquids export system."
So it makes sens that they would be seeking other partners for additional LNG plants within PNG. It also makes sense that XOM would look to become aligned with IOC to ensure they have the necessary gas. If it can be worked out, they might even join the JKM consortium. JAPEX and Kogas would gain an experienced operator, secure needed LNG, and XOM would gain its necessary gas for full expansion. And when 236 is ready for development, XOM already has their plant, and Napa Napa could be part of any expansion.
This dog could hunt.