Image source: Business Advantage PNG
Development of the Papua LNG project remains on track. Participants to the 2nd PNG Petroleum & Energy Summit yesterday were given an update on the Papua LNG Project.
The update was given by project developer, Total E&P Managing Director, Philippe Blanchard.
Mr Blanchard said given cooperation from all stakeholders, the project remained on track
According to Blanchard, a key part of the project has been the need to carry out a social mapping exercise, which he says has been ongoing for some time. He said PNG is an integral part of the growth of Total in this part of the world, particularly given the value of the known resources.
Total is also into exploration offshore, with a stake in PPL 339, which Blanchard says is a demonstration of their commitment to the country.
The move by Total to explore off-shore gas resources has been welcomed, with Prime Minister Peter O’Neill commending resource companies for the confidence in venturing off-shore in Papua New Guinea.
However, the Prime Minister also reminded project developers that the government would be looking to ensure that more benefits would remain in-country, with the National Government keen on maximizing the returns for local communities.