21 Jul 2010

PNG company hopes to benefit from its floating offloading facility

10:44 am on 21 July 2010

Papua New Guinea's emerging mining and petroleum company Petromin Holdings Ltd believes its LNG floating production storage and offloading facility will be the fastest way to commercialise the gas resources.

The Managing director and chief executive officer, Joshua Kalinoe, says LNG FPSO technology would be the most convenient technmology, especially for gas fields within the ocean's proximity with long distance pipeline options to the onshore processing facilities.

The Post Courier reports him as saying Petromin has identified suitable international partners who have the technology and financial resources to deliver what the company considered to be a "total solution" to the gas owners in PNG.