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The two firms signed the contract on Friday.
With an expected capacity of 1.5 mtpa, Papua New Guinea’s first FLNG is planned to be deployed to the Gulf of Papua, according to a statement by Wison.
Wison said pre-FEED will be completed by June 2025.
The company did not provide further information regarding the deal.
It’s worth mentioning here that in November 2017, Wison Offshore and Marine, now Wison New Energies, signed a memorandum of understanding with US engineer KBR to cooperate on Kumul’s 1.5 mtpa floating liquefaction unit in PNG.
PNG LNG
The statement noted that Kumul is 100 percent owner and operator of four petroleum retention licenses – PRLs 47, 48, 49, and 50, over the Pandora, Kimu, Barikewa, and Uramu petroleum fields.
Kumul is also the third largest shareholder in the ExxonMobil-led PNG LNG project with a 16.8 percent stake.
ExxonMobil holds a 33.2 percent operating interest in PNG LNG which is able to produce more than 8.3 million tonnes of LNG annually, an increase of 20 percent from the original design specification of 6.9 mtpa.
Australia’s Santos currently has a 42.5 percent stake in the LNG export plant in Caution Bay following the Oil Search merger, and it agreed earlier this year to amend the terms of sale of its 2.6 percent stake in the LNG project to Kumul.
Besides PNG LNG, France’s TotalEnergies and its partners are working to make a final investment decision on the Papua LNG export project.
The project calls for the design of about 4 mtpa of liquefaction capacity adjacent to the existing PNG LNG processing facilities.
Wison FLNG projects
Wison is working on several FLNG projects.
In June this year, the company secured a contract from a unit of Genting to build a floating LNG unit worth about $1 billion.
Following completion in 2026, the 1.2 mtpa FLNG will work in Indonesia.
This is Wison’s third FLNG contract, after contracts with Exmar and Eni.
According to Wison, this will also be the first FLNG facility in Indonesia and the ninth FLNG in the world.
Wison won a contract from Italy’s Eni in December 2022 to build a 380-meter-long 2.4 mtpa FLNG and officially started work on the project in January last year.
In May, the company completed the installation of all SPB tanks on the FLNG, which will serve the Marine XII offshore FLNG project in Congo.