This was said by Santos executive Brett Darley when he addressed the recent Australia PNG Business Forum in Brisbane. Darley said the first gas from Angore was expected in 2024 and the project would make Santos' share of capital expenditure be about $135 million dollars, or K475.3 million.

 

He said these drilling activities would be a great boost for the industry and economy in the wake of the pandemic, as Santos endeavoured to add more to its resource portfolio, the Post-Courier newspaper reported.

 

"In addition to progress being made on the Angore development project, we have seen strong performance from the Agogo and Moran fields.

 

"A coiled tubing [drilling] campaign began in the fourth quarter of last year in those fields, which will deliver incremental production in 2022," he said.

 

"Papua LNG, a project that has the potential to be nation-shaping for decades to come, continues to progress technical and commercial, regulatory, social and environmental activities.

 

"These pre-front-end engineering design activities remain on track in support of a FEED-entry decision that is targeted to be made by the end of this year."

 

Darley said with the current supply crunch that experienced in the global LNG market, projects like Papua LNG are becoming increasingly critical for global energy security and to ensure energy remains affordable.

 

"We are continuing to work hard with our joint venture partners to progress this project which will create local jobs in Papua New Guinea, drive economic development and create revenues for the government.

 

"The other growth project that we are working hard on is P'nyang, with the P'nyang Gas Agreement being successfully executed between the PRL3 joint venture partners and the PNG government earlier this year," he said.

 

"We are working hard on the integration of the Oil Search business, on delivering on our commitments and on ensuring the growth project and opportunities that are so important to PNG to continue on schedule and on budget."