Wison New Energies and Kumul Petroleum signed an FLNG pre-front-end engineering and development (FEED) contract on October 18, 2024. The pre-FEED is due to be completed by June 2025. With an expected capacity of 1.5 million tons per annum (mtpa), Papua New Guinea’s first FLNG is anticipated to help develop the resources from the Pandora and Uramu offshore gas fields.
While emphasizing its commitment to offering efficient and environmentally friendly FLNG solutions, Wison highlighted the deal’s ability to advance key national projects in Papua New Guinea, marking a significant milestone for the firm in Oceania. The company underlines that its team is ready to draw on its “expertise and experience in the clean energy sector to ensure successful project execution with the highest standards of quality.”
Wapu Sonk, Kumul Petroleum’s Managing Director, commented: “Kumul Petroleum Holdings Limited has for some time been investigating how to commercialise stranded gas resources, particularly in its petroleum retention licences (PRLs 47 & 50) over the Pandora and Uramu gas fields offshore in Gulf Province, this is a critical step and in the right direction, one we are extremely excited about as the national petroleum company.
“KPHL has evaluated these gas discoveries and completed reserve certification, which has given us confidence in moving to this stage of the commercialisation plan. KPHL is 100% license holder of the two PRL offshore licenses at the moment and intends to farm down post this study to interested partners who see value in the 1.5mtpa FLNG project in PNG.”
