Proper Planning can Reap Billions-from IOC website

[jft310]

Proper planning can reap billions

Over the next few months, we expect to have increased confidence in the trains (or processing units) needed to develop the Elk-Antelope gas field in the

Gulf Province.

While we already know Elk-Antelope is Papua New Guinea’s biggest gas discovery,

we are drilling two appraisal wells to get a more accurate picture of the field so we

can build the right-sized facilities to maximise value for the nation.

The field may be developed with two or more trains if the field is even bigger than we

currently think it is, which will mean Papua New Guinea will get its second LNG

project.

Careful planning can mean billions of kina in extra revenue to the country and many

thousands of jobs for Papua New Guineans.

The nation has already earned a reputation for developing the world’s least-expensive

LNG, which makes our gas highly competitive and sought after in Asian markets.

Through careful appraisal of Elk-Antelope, we intend to build on that reputation by

developing the gas fields, pipelines and LNG facilities that ensure the best financial

returns to the nation and our shareholders.

More than 400 people in the Elk-Antelope joint venture are already working in Port

Moresby, Paris and Singapore on development plans for the project, which could be

under construction from 2016.

Properly managed, this project can secure PNG’s financial future for generations,

providing critical funds for health care, education, roads, and other vital nation

building services

[Getitrt2]

OOPS! Sorry, JFT, just saw your post after posting mine.

[jft310]

Proposed construction in 2016.

[mikesioc]

Anyone getting a warm feeling for the billions of Kina for the local population? Still having trouble over the billions of dollars lost for IOC shareholders? $90 to $55 in 16 months is not maximizing value but the lemonade stand is open for business! Construction by 2016? Construction of what? A new LNG facility? I've got some beach front property in Arizona for you if you believe that one.

[sageo]

Anyone getting a warm feeling for the billions of Kina for the local population? Still having trouble over the billions of dollars lost for IOC shareholders? $90 to $55 in 16 months is not maximizing value but the lemonade stand is open for business! Construction by 2016? Construction of what? A new LNG facility? I've got some beach front property in Arizona for you if you believe that one.

Mike- Good day to you. From the old TV series "The A-Team ......I love it when a plan comes togrther", or in our case "doesn't" .  ( just tryin' to smile on another sad day !)

[ArtM72]

Anyone getting a warm feeling for the billions of Kina for the local population? Still having trouble over the billions of dollars lost for IOC shareholders? $90 to $55 in 16 months is not maximizing value but the lemonade stand is open for business! Construction by 2016? Construction of what? A new LNG facility? I've got some beach front property in Arizona for you if you believe that one.

After around five years of planning to date it doesn't seem so unlikely that construction could begin in 2016.  Their is no less capital intensive alternative to petroleum anywhere on the horizon than natural gas, or evidence of a clearly higher margin LNG facility anywhere in the world than one supplied by E/A.  But then maybe you believe China and India have plans to reduce per capita energy consumption in the next few decades.

[jft310]

Hession threw out all of Phil's planning .If only Somare has stayed well would Phil have pulled it off????????Who knows..

[Getitrt2]

Anyone getting a warm feeling for the billions of Kina for the local population? Still having trouble over the billions of dollars lost for IOC shareholders? $90 to $55 in 16 months is not maximizing value but the lemonade stand is open for business! Construction by 2016? Construction of what? A new LNG facility? I've got some beach front property in Arizona for you if you believe that one.

After around five years of planning to date it doesn't seem so unlikely that construction could begin in 2016.  Their is no less capital intensive alternative to petroleum anywhere on the horizon than natural gas, or evidence of a clearly higher margin LNG facility anywhere in the world than one supplied by E/A.  But then maybe you believe China and India have plans to reduce per capita energy consumption in the next few decades.

I'm with you, Art.  That may be where a big "over deliver" comes in, but the drilling needs to go better at Antelope.  Hopefully, the planning and preparation was less hurried and better.

[mikesioc]

There will be no FID by 2016 let alone construction.

[jft310]

Mike - better tell that to Total that has budgeted for construction.