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InterOil Corporation Message Board

  • jdeo1969 jdeo1969 May 13, 2013 1:28 PM Flag

    Anyone else notice this in the Weekend Post Courier? This is now the 4th publication "naming" Shell.

    Of the three oil and gas majors understood to be vying for a share of US-listed junior InterOil’s Gulf LNG project in Papua New Guinea, Shell is being tipped by some industry insiders as the bidder most likely to succeed.
    The PNG government approved InterOil’s plans to develop the 3.8 million mt/year Gulf LNG project in November last year but has required that the company bring in a partner with a track record operating similar projects. At the same time the government said state-owned resources company Petromin would take a 50% stake in the onshore Elk and Antelope gas fields that will feed the LNG project.
    Shell’s perceived advantage over rivals ExxonMobil and Total centres on its existing relationship with the PNG government and the strategic alliance it signed with Petromin in August 2011. Since then, PNG Minister for Petroleum and Energy William Duma has repeatedly pointed to Shell as a potential stakeholder in the InterOil project.
    The Shell-Petromin deal included a joint technical study of PNG’s major hydrocarbon basins to evaluate exploration opportunities that the two companies could pursue together.
    Shell’s overall appeal as a partner for the PNG government may also be strengthened by its ownership of emerging floating LNG technology. In addition to stranded offshore resources, Petromin has in the past eyed the option of using an FLNG facility as an alternative to onshore liquefaction to monetize small-scale gas discoveries in PNG’s Foreland Basin, host to the Elk and Antelope fields.
    Shell is the operator of Prelude, which became the world’s first FLNG project to reach a final investment decision when it was approved by the company in May 2011. The massive Prelude FLNG facility is currently being built in South Korea and is expected to be deployed to its position off Western Australia and start operations around 2017.

    Good luck longs

    Sentiment: Strong Buy

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