SANTOS has moved closer to completing its move into a key Papua New Guinea permit with the signing a binding letter of intent (LOI) which sets out the terms by which the Australian company will purchase a 14.32% equity interest in Petroleum Retention Licence (PRL) -3. PRL-3 contains the giant P’nyang gas field, which the licence participants ExxonMobil, Total, Oil Search, JX Nippon and soon Santos, propose to develop in
SANTOS has announced that the Barossa project has strengthened its position as what it believes is the leading candidate for Darwin LNG (DLNG) backfill with the award of the Subsea Production System (SPS) contract. Following a competitive tender, Technip Oceania Pty Ltd was the successful bidder to supply the SPS. The Engineering, Procurement and Construction (EPC) contract represents a commitment to long-lead items in advance of a final investment decision.
WOODSID has signed a Heads of Agreement (HOA) with ENN Group for the sale of 1.0 million tonnes of LNG per annum from Woodside’s portfolio for a period of 10 years, commencing in 2025. Woodside CEO Peter Coleman said the HOA, signed at LNG2019 in Shanghai, builds on an October 2018 cooperation agreement, under which the two companies committed to work together to explore a broad range of potential business
The Western Australia Government has teamed up with The University of Western Australia (UWA) and the LNG industry to develop a world-first microscale LNG plant, as part of an LNG Futures Facility in Kwinana. In Shanghai, representing Western Australia at the 19th International Conference & Exhibition on Liquefied Natural Gas (LNG19), Premier Mark McGowan was joined by industry leaders and UWA to make the announcement. The State Government will provide
PNG is on the threshold of substantial new investment that could double its LNG production in the coming years, according to the country’s leading petroleum company. Oil Search managing director, Peter Botten, made this forecast whilst advocating major new infrastructure must be developed in a responsible and sustainable way. Speaking at the PNG Petroleum and Energy Summit in Port Moresby, Mr Botten said the global LNG market is highly competitive
CONFIDENCE in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL. The study found that 76% of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own
WOODSIDE has awarded four contracts for front-end engineering design activities for the proposed Scarborough Project off the north west coast of Western Australia/ The contracts are for engineering activities related to the upstream development’s floating production unit, the export trunkline and the subsea umbilical risers and flowlines. Each contract includes an option to progress to execute phase activities, which is subject to, among other conditions, a positive final investment decision
WOODSIDE has awarded a contract to Bechtel (Western Australia) Pty Ltd to undertake front-end engineering design (FEED) for its 100% owned Pluto Train 2 Project. The FEED work includes activities required to finalise the costs and technical definition for the proposed second LNG train at the Pluto LNG facility. The awarded contract also includes an option for Woodside to progress to a lump sum engineering, procurement and construction contract for
WOODSIDE Energy Trading Singapore Pte Ltd has signed an agreement with RWE Supply & Trading GmbH for the mid-term supply of LNG commencing in the fourth quarter of 2020 and in effect until December 2022. Woodside EVP Marketing Trading & Shipping’s Reinhardt Matisons said the LNG would be supplied on an FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas,
FRNCE’S Total has signed an agreement to divest a 4% interest in the Ichthys LNG project in Australia to operating partner INPEX for an overall consideration of US$1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of our constant portfolio review to optimize our capital allocation,” said Arnaud Breuillac, President, Exploration & Production at Total. “Ichthys