Santos today announced that it has entered into an agreement with ExxonMobil, Oil Search and Nippon Oil to jointly progress a detailed pre-FEED study of a standalone LNG project based on the Hides gas field in Papua New Guinea.
Under the terms of the Cost Sharing Agreement, the pre-FEED study will evaluate technical and commercial merits of developing a 5.0 to 6.5 million tonne per annum LNG facility, targeting first cargos in the 2012 to 2013 timeframe.
The Hides gas and condensate field (Santos 25% working interest) is expected to underpin the gas volumes required, with additional gas potentially sourced from the nearby Juha and Angore fields.