Meanwhile Duma gives IOC 180 days "To prove worth"

[Palm]

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."

http://www.emtv.com.pg/home/latest-news/...gory_id=20

[ebster123]

Both recent articles smell like dead shells....RDS!!!!

[Palm]

In this meeting on the video you have the corrupt leading the corrupt. Kavo and Duma may be making a last stand; one hand pounding the table and one hand behind backs fully extended.

[ArtM72]

Great. So we have Duma saying IOC has to go because the Provincial government is mad at IOC because IOC isn't processing all its gas in the Gulf, and because IOC renigged on the 2009 agreement to build an LNG plant in Port Moresby because IOC wanted to build LNG processing facilities in Gulf Province. Oh yeah, Duma and emtv forgets to mention in their report ONeil's and the Parliament's support of the IOC/XOM plan.

My local newspaper, The Herald, has a letters to the editor section called "The Fence Post". In the Fence Post they publish whatever illogical and unsubstantiated drivel people are capable of emailing to the editors. Not so good to know that PNG's guardian of democracy, their media, is doing just as effective job as ours in the USA does after 250 years.

[efi426hemi]

If we assume that IOC has plans to build a plant at Gulf LNG and they are in conversation today with the government (one of Hession's strengths is communication) then this may have nothing to do with Shell.  It is likely Duma understanding the timelines and knowing the future plans and using that to his political advantage as he will look like the hero that saved Gulf LNG when IOC announces its plans in the next few months for Gulf LNG.

Or I may be reading it wrong.

Keep it on Ice,

Hemi 

[jft310]

Sounds like Duma will not be running DPE in 180 days. And O'Neil announced a deal to Parliament and got a standing ovation.

[Tree]

Appears XOM is after more than 4.6 T's of gas and maybe IOC's 'optionality'. Gulf LNG bidders find themselves now bidding against favorable PNG LNG expansion economics for the remaining known 4.6 T's. Time to apply a double dose of B.S. repellent when searching the news.

[Palm]

Thing is Art that buried in the story and the video are comments that IOC is stating that talks are progressing and the govt is being kept informed. Also the last statement regarding a detailed statement coming soon is from IOC. Duma is out of the loop and now goes to Kavo for support. A real Shell game me thinks.

You mean "reneged"? Could get some people here upset

[ArtM72]

Thing is Art that buried in the story and the video are comments that IOC is stating that talks are progressing and the govt is being kept informed. Also the last statement regarding a detailed statement coming soon is from IOC. Duma is out of the loop and now goes to Kavo for support. A real Shell game me thinks. You mean "reneged"? Could get some people here upset

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Duma still has the job and the DPE is still a bag of 6 month old banannas.  In some ways I don't blame the shorts for their (misguided) position.  What is going on is maddening even when you have every reason to believe in the resource.  Sometimes you almost wish PNG was corrupt and happy to stay that way.  At least in that environment you could move things forward in confidence.

C'est la guerre!  C'est la vie! C'est l'amour!  Viva la IOC!

(Apologies in advance to anyone from Total S. A. reading this blog).

[Libtardius Maximus]

This is Hession's moment.

http://www.youtube.com/watch?v=vD94dVu8lqQ