(CercleFinance.com) – Following a meeting between its CEO Patrick Pouyanné and James Marape, the Prime Minister of Papua New Guinea, TotalEnergies indicates that the FID (final investment decision) of the Papua LNG project is now expected for 2025.
After receipt of the first offers, it appears that the project will have to continue working with contractors to obtain commercially viable EPC contracts and that it is necessary to continue these efforts to be able to take on the FID.
With this in mind, the project will review the structure of certain lots and open the competition to a wider panel of Asian contractors. As a result, FID for the Papua LNG project is now expected next year.
This slight delay will not affect the first work planned in Papua New Guinea in 2024. Furthermore, TotalEnergies intends to drill the first deep-water exploration well on the PPL 576 permit in 2025.