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Talisman and Cott study Papua New Guinea Pandora FLNG concept

 Wison to propose Pandora FLNG conceptual design

The Chinese engineering company and shipyard Wison Offshore and Marine (Wison) submitted an expression of interest (EOI) to the Australian junior company Cott Oil and Gas Limited (Cott) as the main stakeholder of the Block PRL 38 offshore Papua New Guinea to propose a floating liquefied natural gas (FLNG) barge as the most cost effective solution to develop Pandora.

Cott is the major share holders of the Block PRL 38 operated by the Canadian company Talisman Energy Inc. (Talisman) where has been discovered the Pandora gas and condensate field.

Talisman_Cott_Kina_Santos_Wison_Pandora_FLNG_Barge_MapCott took large interests in Pandora with the endorsement of the Hong Kong-based International Exploration Services (IES), so that Block PRL 38 working interests are currently shared between:

 – Cott 40%

 – Kina Petroleum 25%

 – Talisman 25% is the operator

 – Santos 10%

Discovered in 1988 Pandora is a typical mid-size natural gas and condensate field with contingent reserves estimated over 1 trillion cubic feet of gas (tcf).

With this size and in respect with the giant projects being developed in Papua New Guinea by ExxonMobil or Total, the question for Talisman and Cott is whether to develop Pandora as a feeder for the other projects or as a stand alone project.

For large LNG project, the experience shows that 1 tcf reserves of natural gas justifies 1 million tonne per year (t/y) LNG plant.

In that respect, Pandora stands at the lowest limit of reserves to be developed as a stand alone LNG project.

Wison capitalizes on Exmar Columbia FLNG projects

Recently some LNG carriers specialists investigated low costs LNG solutions for marginal fields based on converted LNG vessels of on new build LNG barges.

Norwegian shipping companies such as Hoegh LNG or Golar LNG are proposing FLNG for these marginal fields requiring minimum gas treatment.

In the same way the Dutch LNG carriers operator Exmar designed FLNG barges fitting for marginal fields with 0.5 million t/y capacity of LNG.

In 2013, Exmar awarded the engineering, procurement and construction (EPC) contract to Wison for two FLNG barges to be moored offshore Columbia for the Caribbean FLNG project and Pacific Rubiales FLNG project.

These FLNG barges are currently being built at Wison Nantong shipyard in China.

From this experience, Wison submitted its EOI to Cott with the same concept.

Anyway this concept needs validation before moving into front end engineering and design (FEED) because of the nature of Pandora gas field rich in hydrogen sulfide.

The percentage of this hydrogen sulfide is high enough to require a dedicated treatment that has prevented Pandora earlier development.

 Therefore the conceptual study proposed by Wison to CottTalisman and their partners will include:

Talisman_Cott_Kina_Santos_Wison_Black&Veatch_Pandora_FLNG_Barge – Gas pre-treatment and processing

 – Minimum storage capacities

 – Offloading system

 – Mooring requirements

 – Supporting infrastructures

 – Costs estimates

From the Columbia FLNG benchmark, Wison suggests the FLNG barge to require $600 million capital expenditure per million t/y LNG capacity.

Assuming the positive conclusion of Wison conceptual study for its FLNG barge, Cott and its partners Talisman, Kina Petroleum and Santos are planning to start the FEED work for Pandora FLNG in 2015

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