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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1116)	5/31/1999 8:30:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Papua New Guinea: Gas project needs timely decisions, say ministers The National, June 1 PORT MORESBY: The PNG gas project joint venture must come up with timely and prompt decisions if PNG gas is to enter the Queensland market, according to Minister for Petroleum Sir Rabbie Namaliu and his Mining counterpart Masket Iangalio. They made the call yesterday after discussions with Australian ministers and senior company executives on issues relating to the PNG-Queensland gas pipeline project. The two leaders said the discussions were fruitful and covered issues like ownership and financing of infrastructure, sovereign risks, financial and technical assistance to PNG to carry out work related to the project and mutual benefits for PNG, Australia and Queensland. "We are confident that the governments of Australia and Queensland are very supportive of and will do whatever they can to ensure the success of this major project. It is at its very crucial stage and all efforts must be intensified in the next few weeks to make it a reality," Sir Rabbie and Mr Iangalio said. They said many issues were commercial in nature and all the three governments recognised that but they also believed that the companies concerned must be reasonable in price negotiations. "This has been a cooperative venture between the three governments and the private sector and we hope that the tremendous amount of goodwill that has been built up between government and the private sector will be taken into account by producers and buyers in their negotiations on the price of delivered gas in Queensland," the ministers said. "We recognise that negotiations on price are a commercial issue but we want to stress that timing is vital and therefore prompt decisions are required from the joint venture and the customers if PNG gas is to enter the Queensland market at all." On top of this, there are issues like political risk which may require government and landowner involvement in order to find solutions, they said, adding Kutubu was a world class project that has set the basis for successful development of petroleum in PNG with a real spirit of partnership. "We expect the same spirit of cooperation to continue between the National Government, provincial governments and landowners with regard to the gas project," Sir Rabbie and Mr Iangalio said. "The structuring of ownership in the infrastructure and financing will directly involve State owned entities, provincial governments and landowners. This is important because it establishes ownership and therefore responsibility towards safeguards of infrastructure and consistency of supply," the ministers said. wr.com.au

To: Tomas who wrote (1116)	5/31/1999 9:17:00 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Sudan: President Al-Bashir To Launch Oil Pipeline Monday - SUNA Khartoum, May 30 (SUNA)- President of the Republic Gen. Omer Al-Bashir is to launch Monday the Sudanese oil Pipeline from Hejliej oil field, commencing the commercial production of the Sudanese oil and in preparation for the export operations, which are to be officially celebrated at Bashair terminal on the Red Sea on June 30, in the context of the country's celebrations of the 10th anniversary of the National Salvation Revolution. The 1610 kilometre long oil pipeline has a diameter of 28 inches and extends from Hejliej to the export terminal of Bashair, South of Port Sudan. It has a maximum capacity of 450,000 barrels per day (BPD). It is operated at a capacity of 150,000-250,000 BPD through six pumping stations along the pipeline. The pipeline was built against a cost of more than one billion US dollars as the agreement was signed with the consortium companies in March 1997. The implementation contracts were won by the Chinese CPECC company and the Argentine TECHINT company, which undertook construction of the pumping stations, telecommunications and control work and the export terminal. The British WIER company provided pumps, the British Alan Diesel supplied electricity generators, the Chinese CPTDC supplied 1,110 kilometres of pipes and the German Menseman, 500 kilometres of pipes. This is besides the Malaysian OGP company, which served as quality control consultant for the project.

To: Tomas who wrote (1116)	5/31/1999 9:25:00 PM
From: Tomas	Respond to of 2742

Sudan Inaugurates Oil Export Pipeline - PANA Yahya el Hassan, PANA Correspondent KHARTOUM (PANA) - Sudan Monday inaugurated a 1,610-km oil pipeline designed to carry the country's crude from Heglig and Unity oil fields in the west and southern parts to a loading terminal in Port Sudan, on the Red Sea. The pipeline was officially inauguraged by President Omar el Bashir during a ceremony held at Heglig. The ceremony was the first trial of the 600 million US dollars pipeline, built by a consortium of firms from China, Canada, Malaysia, Argentina and Britain. Its final operation is expected to begin 1 July when the first oil tanker carries the first shipment of the crude to the international market. Designed to carry 450,000 barrels of oil a day, the pipe will initially convey only 150,000 barrels. Some 50,000 of this will refined at the Khartoum Oil Refinery at el Jaili village, 30 km north of the capital. The refinery is being built by a Chinese firm at a cost of 620 million dollars. The bulk of the crude will be exported. Bashir said at the ceremony he considered that oil ''has now become a reality of the economic life of Sudan.'' He added that exploration work will continue throughout the country as ''scientific research has shown that there are oil indications in many parts of Sudan.''