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Gulf LNG: InterOil given 180 days to prove its worth

The state has givenInterOil 180 days to prover its worth to developthe Elk and Antelope gas fields’ in Gulf.

 

The Elk and Antelope gas fields are inthe Beimuru district ofthe Gulf Province. These reserves are host tothe seconPNG LNG project. Work is underway and a developer has yet to be confirmed.

The provincial government has raised serious concerns aboutthe current developer -InterOil.

 

It claimedInterOil has failed to honour its commitments tothe project and honourthe MoA it’signed withthe state in December 2009 to make a final investment decision bythe 24th of June 2013.

 

Minister Duma saidthe current developer has been given 180 days that is up to December to give a detailed account ontheir position.

 

“They were expected bythe government to ensure that whatever arrangement or structurethey agree upon must be in line withthe specifications,” said Minister Duma.
 

Minister Duma has receivedthe provincial government’s proposition paper onthe Gulf LNG.

 

The provincial government has urgedthe state to find a new developer.

 

Its political heads demanded maximum benefits fromthe LNG project for their people and province. The lLeadersalso raised concerns abouttheInterOil / ExxonMobil partnership.

 

“We fearthe danger of Monopoly by one LNG engage operator inthe country and that we want to remindthe state ‘that must be avoided as much as possible’.
 

Meantime,InterOil said at this time, all parties includingthe State continue to hold constructive dialogue on development options for the Elk / Antelope gas resource.

 

A detailed report on this issue is expected soon.

https://youtube.com/watch?v=8BevIOHQdjw%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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