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The Minister for Petroleum, Mr Kerenga Kua is pleased with the signing of the Ministerial Determination last Friday, 30 August 2019 that allows the Pasca LNG developer Twinza to proceed with their investment in the country.
Mr Kua said: “This project though small in relative terms to the PNGLNG and the Papua LNG has the highest combined flow rate of gas and condensate ever recorded in offshore PNG and is likely to underpin the commercialization of other offshore gas fields.
“I commend the developer Twinza Oil (PNG) Ltd for their confidence in investing over the years since 2011 and meeting all the requirements of the Oil and Gas Act of PNG.
“This is a first also for PNG as the site though in relatively shallow waters is almost 100 kms out to sea in the Gulf of Papua. As required by legislation a development forum will still need to take place but the site is beyond the fishing grounds of the Gulf people so after the legal checks and social mapping the State Solicitor’s Office has deemed that there are no landowners. However, the signing of this ministerial determination now allows the benefits sharing process between the Gulf Provincial Government and the National Government to move ahead.
“The project proposal is in two phases; first phase is the harvesting of condensate and the re-injection of gas and the second phase is gas extraction and commercialization.
“My approach as the Minister is to have condensate and gas produced at the same time or within a close time interval (within 3 years) so that we as a State do not lose value in the residual gas after extraction of the condensate.
“The Project Developer, Twinza, is a family owned company that has previously operated in Myanmar, Thailand and Australia and its other partners and financiers have supported projects in the North Sea, Israel and Africa.”