Oil & Gas
Total Confirms Remobilization of Papua LNG Project
A meeting took place on 3rd of May between Patrick Pouyanné, Chairman and CEO of Total, and a Delegation of Papua New Guinea led by the Deputy Prime
A meeting took place on 3rd of May between Patrick Pouyanné, Chairman and CEO of Total, and a Delegation of Papua New Guinea led by the Deputy Prime Minister Samuel Basil, with the objective to review together the next steps for the development of the Papua LNG project. After a year of delay because of Covid-19, the Government of PNG and Total as Operator announced the remobilization of the project teams and of other required resources. The objective is to launch the FEED early 2022 and to prepare for final investment decision in 2023. This positive development follows the signature and the reconfirmation of the Papua LNG Gas Agreement in 2019, the signature of the Fiscal Stability Agreement and the award of the License extension in February 2021.
Papua LNG project will target the production of the two main discoveries of Block PRL-15, Elk and Antelope, that were fully appraised until 2017. It is expected that the gas produced by these fields will be transported by a 320 km onshore/offshore pipeline to Caution Bay site in order to be liquefied in 2 trains to be built with a total capacity of 5.6 Mt/y which will be integrated to the existing PNG LNG facilities in Caution Bay.
Total and PNG Authorities will cooperate to create significant in-country value and to implement the Papua LNG project in an exemplary manner and taking into highest consideration the biodiversity and environmental stakes as well as the local communities’ rights.
Total operates the Elk and Antelope onshore fields and is the largest shareholder of the PRL-15 permit with a 31.1% interest, alongside partners ExxonMobil (28.7%) and Oil Search (17.7%), post the State back-in right of 22.5%.