Wison New Energies has secured a pre-FEED contract with Kumul Petroleum Holdings to develop Papua New Guinea’s first floating liquefied natural gas (FLNG) unit. The unit, with a capacity of 1.5 million tons per annum (mtpa), will operate in the Gulf of Papua, and the pre-FEED study is expected to conclude by June 2025.
The study, valued at approximately $10 million, aims to assess the project’s scope, cost, and risks before advancing to FEED (Front-End Engineering Design) and a final investment decision (FID) in 2026 or 2027.
“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 1.5 mtpa FLNG project in Papua New Guinea,” said Wapu Sonk, managing director of Kumul Petroleum Holdings.
The pre-FEED phase will take 8-12 months, paving the way for FEED and further development of the country's first offshore FLNG infrastructure.
