Hession- Total is Operator

[Palm]

Don't remember seeing this. If it's been posted already I apologize. But here Hession states Total has been appointed as Operator and will be managing the project going forward. We saw where O'Neill stated it couple of days ago, now IOC has said it.

"Papua LNG – a big step forward

The Elk-Antelope LNG project in Papua New Guinea has entered basis of design, a significant step following site selection for the development and the choice of a project name.

The project partners – Total, InterOil and Oil Search – have unanimously agreed that central processing facilities for the Elk-Antelope field, on which the project is based, will be near the Purari River in the Gulf Province, about 360km north-west of Port Moresby, and will be connected to the LNG facility by onshore and offshore gas and condensate pipelines.

Caution Bay near Port Moresby has been selected as the site for Papua New Guinea’s second liquefied natural gas plant.

The partners have also chosen Papua LNG as the project name in recognition of the importance that the Gulf and Central provinces play in developing the resource for the benefit of all Papua New Guineans.

Both provinces stand to benefit greatly through jobs and training and investment in roads, health and education facilities.

Over the coming months, Papua LNG, which will be operated by Total SA, will further define site locations and pipeline corridors as part of project development.

Selection of the final development concept, including the size and capacity of facilities, is expected in early 2016 when appraisal of the Elk-Antelope field has been completed.

This will be followed by front-end engineering and design with early works scheduled to begin later in 2016.

The choice of sites is a key element of creating value from what is shaping as one of the lowest cost, new-build LNG projects globally that sits on the door step of Asia, the world’s biggest LNG market.

With Total operating the project and ramping up its presence in Papua New Guinea, we remain on track to take a final investment decision in 2017.

For InterOil, the achievement of this milestone is a significant step in the execution of our strategy to find hydrocarbons, to enable their development, and to develop them with the right partners.

Dr. Michael Hession
Chief Executive Officer"

[johnwgrant]

Don't remember seeing this. If it's been posted already I apologize. But here Hession states Total has been appointed as Operator and will be managing the project going forward. We saw where O'Neill stated it couple of days ago, now IOC has said it.

"Papua LNG – a big step forward

The Elk-Antelope LNG project in Papua New Guinea has entered basis of design, a significant step following site selection for the development and the choice of a project name.

The project partners – Total, InterOil and Oil Search – have unanimously agreed that central processing facilities for the Elk-Antelope field, on which the project is based, will be near the Purari River in the Gulf Province, about 360km north-west of Port Moresby, and will be connected to the LNG facility by onshore and offshore gas and condensate pipelines.

Caution Bay near Port Moresby has been selected as the site for Papua New Guinea’s second liquefied natural gas plant.

The partners have also chosen Papua LNG as the project name in recognition of the importance that the Gulf and Central provinces play in developing the resource for the benefit of all Papua New Guineans.

Both provinces stand to benefit greatly through jobs and training and investment in roads, health and education facilities.

Over the coming months, Papua LNG, which will be operated by Total SA, will further define site locations and pipeline corridors as part of project development.

Selection of the final development concept, including the size and capacity of facilities, is expected in early 2016 when appraisal of the Elk-Antelope field has been completed.

This will be followed by front-end engineering and design with early works scheduled to begin later in 2016.

The choice of sites is a key element of creating value from what is shaping as one of the lowest cost, new-build LNG projects globally that sits on the door step of Asia, the world’s biggest LNG market.

With Total operating the project and ramping up its presence in Papua New Guinea, we remain on track to take a final investment decision in 2017.

For InterOil, the achievement of this milestone is a significant step in the execution of our strategy to find hydrocarbons, to enable their development, and to develop them with the right partners.

Dr. Michael Hession
Chief Executive Officer"

Hession is speaking future tense:  "will be operated"  "over the coming months"

He does NOT say that TOTAL is NOW the operator.

[Gator]

I hope that would have been a "Material Event" if it had occurred.

[Palm]

You'd hope, but O'Neill made a very clear statement the other day in Parliament that Total has assumed the Operatorship of PRL15. IOC may not think it would influence an investor in whether to buy or sell (their bar for materiality), so we may get it as part of the Q2 presentation or subsequent events in the Q2 financials.

[jft310]

Are we to assume Total doesn't have a PR Dept if they today are the operator ???curious these French !! weird press release when they took over also . I agree should hear about this by mid Aug.

[katytrader]

Are we to assume Total doesn't have a PR Dept if they today are the operator ???curious these French !! weird press release when they took over also . I agree should hear about this by mid Aug.

My guess is that Total sees no requirement and no particular value in issuing a PR on becoming operator.  This is not a small company where such might be beneficial.

Total may well be content to let the OSX monthly updates speak for everyone.  It is unlikely that TOT shareholders are poised to parse press releases about anything in Papua New Guinea.

I believe Hession has said more than once that IOC and Total were in transition on operator duties.  Take it at face value.  Total has been working for months in moving the right personnel from wherever to staff up.  These people and their families are not being parachuted into the jungle.  The French school year ended, what, a month ago?  Those of you with international experience know that getting everybody in place is not done at the signing of a document.

katytrader

[jft310]

70 Families by year end it was said