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Oil Search concerned about ongoing talks between Total and Papua New Guinea

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LNG Industry,

According to the latest Reuters report, Oil Search has warned that if talks between Total SA and the government of Papua New Guinea (PNG) continue beyond August, costs for a $13 billion plan to double gas exports from the country could rise.

Oil Search is a partner in the Papua LNG project (Total) and the PNG LNG project (Exxon Mobil), which collectively aim to double LNG exports from the Pacific nation to approximately 16 million tpy.

The current talks are being led by Kerenga Kua, PNG’s petroleum minister. Kua aims to renegotiate a gas deal with Total, which was signed in April with the previous government of PNG.

There have been no public comments from either side regarding what issues are yet to be resolved, or if an overall agreement will be reached soon.

The need for haste relates to Papua LNG having already lined up bids from contractors for preliminary engineering and design work, which are due to expire in September. Pulling together new bids will lead to higher costs and expend valuable time.

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