Esso Highlands PNG LNG Project on Track

Press Release
Tuesday, November 13, 2012

Esso Highlands Limited (EHL) operator of the PNG (Papua New Guinea) LNG Project report project capacity increased by 5%.

The increase has been achieved through system-wide optimisations as well as some minor modifications. Progress is being achieved across all parts of the project.

Drilling is under way on two production wells, the offshore pipeline has been completed, all major process equipment for the LNG plant and all pipe rack modules on the LNG jetty have been installed, all piling is complete and foundations are under way at the Hides Gas Conditioning Plant.

The Project remains on track to achieve start-up in 2014.The estimated Project cost has increased from $15.7 billion to $19 billion (excluding Port Moresby administration facilities and shipping). Foreign exchange is the largest single contributor of the increase and to a lesser extent, delays from work stoppages due to community disruptions and land access led to increased construction and drilling costs.

Extraordinary logistics and weather challenges also increased costs. In particular, rainfall exceeded historic norms for most of the last two years. Decie Autin, PNG LNG project executive, said: “ExxonMobi [parent group]l successfully operates world-class projects around the world in a broad range of technical, operational and financial conditions. The Project team was able to overcome significant delays and still maintain overall schedule through re-sequencing work under unique and very challenging circumstances."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Gas Plant Fire Halts US Gulf Coast Platforms

At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a

Sevan Marine Divests Stake in KANFA Aragon

Sevan Marine ASA said it has disposed 50 percent of its stake in KANFA Aragon AS to Sembcorp Marine Ltd. for cash consideration of NOK 20 million, representing

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

LNG

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

GTT, Endel Team-up to Roll-out Membrane Containment Systems

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0746 sec (13 req/sec)