LNG spurs petro giant to open PNG office
Global petroleum giant Shell has opened a new representative office in Papua New Guinea. The Anglo-Dutch oil and gas major is pursuing the potential for LNG export projects.<!--more-->
Shell works in the country with PNG government owned company Petromin. The two formed a strategic alliance in August last year with the signing of an agreement. “The opening of the office affirms Shell’s interest to invest in PNG and offers opportunities for us to work more closely with our partner, Petromin,” Shell's vice president commercial for Asia, Ton Ten Have told the media.
Petromin is a holding entity for the state’s assets and is mandated to maximise indigenous ownership and revenue from the mineral and petroleum sectors.
The alliance includes a joint technical study of PNG's major hydrocarbon basins to evaluate exploration opportunities that Shell and Petromin would look to pursue together.
Meanwhile, minerals giant Nautilus has announced a major expansion project for exploration in the Bismarck Sea. The project hopes to identify new targets, assess data on existing finds and weigh options for new methods of exploration.