Eaglewood Energy Inc. has signed a memorandum of understanding (MOU) with Trafigura PTE LTD (Trafigura). Under the terms of the MOU the two companies will work together with a view to jointly finance, construct and operate a condensate processing facility and pipeline in the Western Province of Papua New Guinea (PNG). The processing facility will be located adjacent to the Ubuntu gas condensate discovery in Eaglewood operated PRL 28 and the pipeline will deliver condensate to Drimdenasuk on the Fly River where it will be exported by river tanker.

The Ubuntu discovery lies in close proximity to other gas condensate discoveries at Elevala and Ketu. The proposed processing facility and pipeline will have the capacity to process and transport condensate from these fields, with further ability for expansion to handle any additional gas condensate discovered on Eaglewood's PPL 259. Eaglewood has lodged Processing Facility (APPFL 3) and Pipeline (APL 9) Licence Applications, which were gazetted by the PNG Department of Petroleum and Energy on June 8, 2012, and are currently being processed.

Tags: Eaglewood Energy