Matt Kay - Oil Search - Exporting LNG from PNG
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Transcript of Matt Kay - Oil Search - Exporting LNG from PNG
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» Perseverance
» Oil Search was incorporated in PNG in 1929
» The Company’s first revenues were received
more than 60 years later
» A$14 billion dollar company with 95% of assets
in PNG
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» Partnership
» PNG ranks 156th of countries on the Human
Development Index (health, education,
standard of living)
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Seismic Acquisition
» Ingenuity
» PNG presents a challenging environment of
rugged terrain, intense rainfall and sensitive
ecosystems
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PNG LNG Project
6
» US$19 billion investment
» 6.9 MTPA, 2 train development,
operated by ExxonMobil
» Expected to produce more than
9 tcf of gas and 200+ million
barrels of associated liquids
over its 30 year life
» 6.6 MTPA contracted to Asian
buyers.
– Sinopec ~2.0 MTPA
– TEPCO ~1.8 MTPA
– Osaka Gas ~1.5 MTPA
– CPC ~1.2 MTPA
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9,000 nationals
employed at peak
>US$30 billion to
Government and
landowners
2.48 billion kina spent
with landowner companies
2.1 million training
hours for nationals
580 million kina invested in community infrastructure
Country Benefits from PNG LNG
Transformation
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» Integrity
» PNG Government and Oil Search committed
to EITI in 2013
» 83% of PNG employees are nationals
» 18% of PNG employees are women
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» Social Licence
» Established landowner companies
providing services to operations
» Shared responsibility model
established to deliver infrastructure
projects
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» Shared Value
» Delivery of 113 tax credit schemes
since 2003
» 40 million Kina spent in 2013 on
community and tax credit projects
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» Shared Value
» 40,000 HIV tests in 2013
» 41% decrease in positive malaria
tests in 2013
» 22,801 maternal and child health
vaccinations delivered in 2013
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Future Growth
» Substantial remaining gas
resources in PNG
» Potential for multiple future
LNG trains
» Committed to sharing value
with the people of PNG
» Transformation for Oil
Search and PNG will
continue
Port Moresby
Kumul
Terminal
PRL08
PDL7
PDL4
PDL3
PRL09
PDL6 PDL5
PRL14
260
233
PPL234
PRL10
PPL244
PPL339
339
339
339
PPL339
339
339 339
PPL260
PRL3
PPL385
PDL1
233
PPL277
PPL277
Juha
Moran
Agogo
Kutubu
Proposed Juha
Facility
Hides
Angore
LNG Facility
Gobe Main
Hides Gas
Conditioning Plant
& Komo Airfield
PPL219
APDL11
PDL9
PDL8
PDL2
PRL15
Uramu
P’nyang
Kimu
SE Gobe
Hagana
Flinders
Juha North
Barikewa
Elk/Antelope
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