Horizon awaits viability of Western Pipeline

Horizon Oil CEO Brent Emmet says the company is considering the proposed Western Pipeline concept but wants assurances it is viable.

According to Business Advantage PNG, Emmet said while Horizon awaits government and regulatory approval for their mid-sized Western LNG project, the company is considering the proposal by Kumul Petroleum Holdings Limited for the pipeline.

He said this during the Business Advantage PNG Investment Conference in Sydney, Australia, recently.

The Western LNG Project, spearheaded by Horizon and joint venture partner, Repsol, aggregate the appraised Western Foreland Fields of Stanely, Elavala, Ketu, Tingu, Puk Puk, Weiman, Douglas and Langia to an off-shore liquefaction facility near Daru. It is expected to generate K3 billion annually for around 20 years.

The Western Pipeline promoted by KPHL aims to aggregate the appraised Western Foreland Fields as well as ExxonMobil and Oil Search’s P’nyang Fields and channel condensate via a pipeline to Port Moresby.

“We’ve been supporting Kumul (Petroleum) in that exercise but we would consider delivering our oil and gas to that project only when its viability is established in commercial terms and the timeline is acceptable.”

KPHL has undertaken a Pre-Front End Engineering Design (Pre-FEED) with the results expected to be ready before the end of the year.

(Source: Horizon Oil)


Author: 
Cedric Patjole