Santos is looking at replacing the aging Kumul Marine terminal.
Speaking during the announcement of their support of the 17th Papua New Guinea Resources and Energy Investment Conference and Exhibition, Santos Country Chair (PNG), Leon Buskens, said: “With Santos’ commitment to PNG, we are evaluating the option to have a Floating Storage and Offtake (FSO) solution to replace the aging Kumul Marine terminal, which has been there since the late 90’s to export the highlands liquids.
“This would be the first FSO in the country.”
Apart from the FSO, Buskens shared other progressive updates, especially drawing attention to this year’s seismic activity.
He said as part of their joint venture, they have acquired about 147km in the Eastern Fold Belt.
“Through our joint venture, we are investing significantly in exploration at both Wildebeest and the Hides Footwall, which are exciting prospects for Santos and PNG.
“We are also rebuilding the small refinery that we operated, which was damaged during the earthquake in 2018. The products from this refinery will mainly support our operational needs, but we are evaluating if there is any surplus that we can sell through local landowner companies to the local community.”
Buskens said resources and energy companies can only operate with a strong social licence, giving back to the communities they operate in.
“To that end, we have been delighted to continue to build on the great work of the Oil Search Foundation through the launch of the global Santos Foundation, which will work across all areas of our operations.
“We will also deliver an exciting update on our Markham Valley Afforestation and Reforestation (AR) Project in Morobe Province at the Conference, and highlights from
our business development and local content program with landowner companies and the impact this has in our project communities in line with our company purpose to create a better world for everyone.
“Santos will also provide an update on its citizen development initiatives, including some success stories since the merger, with 90 percent of its workforce are Papua New Guineans.
“The company will also be establishing an Engineering & Maintenance support centre in Port Moresby, which will support the broader Santos organisation and is a symbol of the talent and capability that we see in PNG.”