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 (1021)	4/20/1999 9:51:00 PM
From: Tomas	Read Replies (1) of 2742

The Australian: Gas will inflate Papua New Guinea By DAMON FRITH, April 20 THE development of a proposed $3.5 billion gas pipeline from Papua New Guinea to Queensland would reduce the country's reliance on Australian development aid, PNG's Petroleum Minister Rabbie Namaliu said yesterday. Speaking in Perth at the Australian Petroleum Production and Exploration Association conference, Sir Rabbie said the project would also significantly change the trade imbalance between the countries. The PNG economy has suffered in recent years because of falling oil production and lower mineral prices. Australia provides around $340 million a year in aid to PNG. The PNG Gas Project is a Chevron-led proposal to develop trillions of cubic feet of gas trapped in the Highlands. The country does not have sufficient industry to justify a stand-alone domestic development but a 2600km pipeline running down the east coast of Australia to Gladstone and possibly Brisbane would open up new industries for PNG. Sir Rabbie said last week's announcement that the Exxon-operated Hides gas field had been brought into the development of the existing Kutubu gas field meant reserves to justify a 30-year project were in place. He said the development still required a raft of government approvals but the gas project "is of vital importance to the PNG economy, so the priority for my Government in the short term is to help ensure that this project does move ahead". Sir Rabbie said oil production from the Kutubu field was declining and national output would fall further as oil production from the Gobe field entered its twilight years. theaustralian.com.au _______________________________________ Papua New Guinea: Developing gas reserves 'is vital' The National, Wednesday April 21 By NIKINTS TIPTIP PORT MORESBY: Falling oil production from Kutubu and an impending drop from Gobe has made it imperative that the country's large gas reserves are developed quickly, Petroleum and Energy Minister Sir Rabbie Namaliu said yesterday. He was speaking at the 40th conference of the Australian Petroleum Production and Exploration Association (APPEA) in Perth. Sir Rabbie expressed hope that by the time APPEA meets again next year in Brisbane work would have started on the PNG to Queensland gas pipeline project, which he described as "world class". Delivering the keynote address to 1,300 participants at APPEA's biggest annual conference to date, Sir Rabbie said that the concrete gravity structure built in the Gulf of Papua in conjunction with the PNG to Queensland gas pipeline "will have the capacity to produce up to one million tonnes of Liquefied Petroleum Gas (LPG) a year". ... ... wr.com.au

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next