Lundin Oil (LOILY, LOILB Sweden) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Tomas who wrote (1419)	11/30/1999 10:04:00 PM
From: Tomas	Read Replies (1) of 2742

Papua New Guinea Gas Project marine survey contract awarded The National, December 1 PORT MORESBY: The PNG-Queensland Gas Project and the AGL-Petronas Joint Venture (APC) yesterday announced the award of a A$2.2 million (K4 million) contract to undertake a detailed marine survey of the sub-sea pipeline route between landfalls in the Gulf of Papua and Cape York in Australia. The contract has been awarded to Teknic Lengkap of Malaysia and Mapping Hydrographic Survey based in Brisbane. The contractors will mobilise over the next few weeks and commence work later this month. The route to be surveyed follows the route outlined in the Australian Environmental Impact Statement and in the PNG Environment Plan. The works will be conducted in consultation with, and involve participation by local indigenous groups. In addition to surveying the pipeline route, the contractor will undertake seabed tests of the soil conditions at the proposed location for the A$730 million offshore maritime facilities. The facility to be located 70km offshore in the Gulf of Papua will strip propane, butane and other liquids from the gas before it is piped to markets in Queensland. Speaking from Sydney, project director Dr John Powell and AGL's group general manager for energy infrastructure Greg Martin confirmed the significance of the announcement. "This is a significant step forward as it is a precursor to the A$85 million front end engineering design (FEED) phase of the project. "While there are still a number of commercial issues to be finalised, this commitment by both the project proponents and AGL/Petronas is a strong indicator of the confidence all stakeholders have in the project," Mr Martin said. He said AGL was pleased to see the project proceed to the next stage. "The awarding of the marine survey contract is another step towards allowing us to meet the construction timetable and adds even further impetus to the project," he said. wr.com.au

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next