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PNG’s clearance of Pasca field signals more to come

Papua New Guinea’s government has approved the country’s first offshore gas field development as it presses ahead with plans to gain more control over and rewards from its rich resources sector Papua New Guinea’s government has approved the country’s first offshore gas field development as it presses ahead with plans to gain more control over and rewards from its rich resources sector.
By Sally Bogle Yesterday Asia Pacific / Exploration & Production 0 34538
A vessel laying the offshore pipeline for PNG LNG. (Exxon)

Twinza Oil, which is owned by the Australian company Clough Engineering Group, has been given ministerial clearance to proceed with the Pasca gas and condensate project in the Gulf of Papua, a decision that could open up the offshore region to a host of new gas developments.

Kerenga Kua, Papua New Guinea’s petroleum minister, rubberstamped Pasca late on Friday in a surprise move. It will kickstart a project that was originally targeting FID in early 2018 but for which plans appeared to have been stymied in...