07-24-2012, 12:44 AM
'Tree' pid='7125' datel Wrote:IOC will soon deliver a bullet-proof project proposal to PNG. That proposal will meet all requirements of 2009 PA and will include the winner of a competitive bid process (read expensive). That winner will almost certainly be XOM, RDS, JKM, CVX, or and equally qualified Major. Likely some of the losing bidders will take project stakes, that is common. IOC will have the weight of SMs/NOCs and as SM's and NOC's are not afraid of Duma as they continue to invest in PNG. As reported, Duma's scheming or ineptness has cost PNG LNG a billion in costs resulting delays, that alone is why XOM would campaign against Duma. Expropriation is the threat to IOC and with SM/NOC cover does anyone think that possible? And if that's possible for IOC, then XOM/TLM/OSH are at equal risk. Does anyone think this possible? Namah and Duma combined couldn't pull that off.
When 3rd world governments are involved, there is no such thing as a "bullet-proof" project proposal.
You note that Duma's "activities" have cost the PNG LNG over $1 billion in extras. Enough said as to the lack of "bullet-proofness" in PNG.
VS