Name of the Project
Papua New Guinea LNG project.
Location
Papua New Guinea (PNG).
Project Owner/s
Total, ExxonMobil and Oil Search.
The companies have agreed to fund government’s equity stake in the project until a final investment decision is made.
Project Description
The project involves the development of the Elk and Antelope gasfields to feed two new production units, or trains, to be built at the PNG LNG plant run by ExxonMobil.
The 5.4-million-ton-a-year-capacity project will comprise two liquefied natural gas (LNG) trains, each with a capacity of 2.7-million tonnes a year and will unlock more than one-billion barrels of oil-equivalent natural gas resources. The gas production will be operated by Total, and the LNG plant will be developed in synergy with the ExxonMobil-operated PNG LNG project through an expansion of the existing plant in Caution Bay.
Potential Job Creation
Not stated.
Capital Expenditure
$13-billion.
Planned Start/End Date
First production is targeted for 2024.
Latest Developments
Total and its partners ExxonMobil and Oil Search have signed the gas agreement with the PNG government, defining the fiscal frame-work for the project. This agreement enables the partners to enter the front-end engineering design (FEED) phase of study that will lead to the final investment decision in 2020.
Since the signature of a memorandum of understanding in November 2018, the pre-FEED engineering studies and the environmental baseline survey have been completed.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Total media relations, tel +33 1 47 44 46 99 or email presse@total.com; or investor relations tel +44 207 719 7962 or email ir@total.com.