EWD CSP plans in Western Province.

[Tree]

Duo sign PNG pipeline and facilities MoU

Papua New Guinea: Eaglewood Energy and Trafigura have signed a memorandum of understanding which could lead to the construction of a condensate plant and pipeline

DREW DOUGLAS

Russell Searancke 

 02 October 2012 02:48 GMT

Canada's Eaglewood Energy said it has signed an agreement with Trafigura to jointly pursue a potential condensate processing facility and pipeline in western Papua New Guinea taking feedstock from the Ubuntu wet gas discovery.

Eaglewood said under the memorandum of understanding with Trafigura the two companies would work together with a view to jointly finance, construct and operate the plant and pipeline.

Chief executive Brad Hurtubise said: "Trafigura has significant global experience in the financing and ownership of oil and gas infrastructure and in the trading, shipping and storage of hydrocarbon products. Since we discovered the Ubuntu field in 2011 we have been working towards the earliest possible commercialisation of the field, and this MoU is a significant step towards achieving this goal and kick-starting oil and gas production in the Western Province of Papua new Guinea."

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Activity by small players is a good measure of security for foreign investors.  May need to add on to that refinery.

[jft310]

Horizon and Talisman's project are selling their condensates to IOC. See the slides for all the refinery upgrades already taking place. Maybe Trifigura will also sell their condensates to IOC.?? And then we have several barrels of condensates at Triceratops.