"We declare our first goal to be for every person to be dynamically involved in the process of freeing himself or herself from every form of domination or oppression so that each man or woman will have the opportunity to develop as a whole person in relationship with others".

- Papua New Guinea National Goals and Directive Principles

Wednesday, 21 August 2013

Palmer says he's found huge PNG gas field

QUEENSLAND mining magnate Clive Palmer says he has discovered one of the world's largest gas fields, a $35 billion deposit off Papua New Guinea. Privately-owned company Palmer Petroleum, which he chairs, says the offshore gas field is in the Gulf of Papua, west of Port Moresby. "The results of the studies are extremely favourable," Mr Palmer said on Wednesday. "The asset could be worth in excess of $US35 billion and is potentially one of the world's largest gas fields." He said the gas deposit is located near Exxon Mobil's $US19 billion LNG project in Papua New Guinea, on the northern end of the Gulf of Papua. Mr Palmer said his company spent more than $50 million to explore an area of more than 3000 square kilometres. Drill hole analysis and 3D surveys were conducted with British geological company Robertson, which belongs to the world's largest seismic surveyor of oilfields, CGG. Analysts declined to comment on the discovery. Earlier this year, Oil Search, which operates all of Papua New Guinea's oilfields, said it found modest quantities of gas in the Gulf of Papua, which led to its decision to pursue further exploration.

Monday, 19 August 2013

Wood Group PSN Wins EPCM Deal for PNG LNG Project

By Wood Group PSN Wednesday, July 24, 2013 Wood Group PSN (WGPSN) announced that it has been awarded a contract by Esso Highlands Limited, a subsidiary of Exxon Mobil Corporation, to provide engineering, procurement, construction and maintenance services to support its Papua New Guinea (PNG) liquefied natural gas (LNG) operations. Under the contract, WGPSN will provide brownfield engineering and procurement support to ExxonMobil’s operations in PNG, including construction and maintenance services to both the Hides gas conditioning plant in the highlands, and the LNG plant northwest of Port Moresby. It is effective from Aug. 1. Matt Gavin, managing director for WGPSN Australia & Asia Pacific said: “We are thrilled with the award of this contract, which enables us to cement our position in the Asia Pacific LNG market. "WGPSN has a long history with ExxonMobil globally, providing operations and technical support through integrated brownfield and engineering service contracts in Australia and Asia Pacific, the United States, and Africa." The PNG LNG Project is an integrated development that includes natural gas production and processing facilities, onshore and offshore pipelines, and liquefaction facilities. The PNG LNG Project is operated by Esso Highlands Limited, a subsidiary of Exxon Mobil Corporation, in co-venture with Oil Search Limited, National Petroleum Company PNG Limited, Santos Limited, JX Nippon Oil and Gas Exploration Corporation, Mineral Resources Development Company Limited and Petromin PNG Holdings Limited, and their affiliates.