Horizon Oil has approved the final investment decision on the $350 million Stanley Field Gas Condensate Recovery Project, which includes the construction of a 40 km pipeline, located in PRL 4 in the Western Province of Papua New Guinea.
The project will produce 140 MMcf/d of wet gas, from which initially 4,000 bbl/d of condensate will be recovered utilising a two-train refrigeration plant located in the field.
The condensate will be transported via the 40 km pipeline to a 60,000 bbl storage tank at Kiunga base and then loaded onto a tanker at a loading facility located approximately 1 km downstream of the existing Kiunga wharf.
Approval on the final investment decision (FID) is conditional upon Horizon receiving debt financing on satisfactory terms.
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Image caption: Horizon Oil's operations in PNG, including PRL 4.
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