Gas-to-liquids specialist Syntroleum has signed an agreement with Kuwait Foreign Petroleum Exploration Company (Kufpec) to join in the development of a 50,000 barrel per day GTL facility in Papua New Guinea.
The project is still in development, but when complete the plant will produce 50,000 bpd of Syntroleum Ultra Clean S-2 Diesel and other high valued ultra clean products, said Syntroleum.
The plant will become an anchor facility in the newly-created Konebada Petroleum Park near the capital city of Port Moresby.
"We have completed our feasibility study, received the PNG government's strong support, and have been joined in the project by one of the world's leading oil and gas exploration companies Kufpec," said Syntroleum chief executive Jack Holmes. "Our focus now is to put in place the major contracts for the facility and move to financing."
Kufpec managing director Bader N Al-Khashti said: "Kufpec is excited to be part of the GTL project in PNG with Syntroleum. This project is a stepping stone for us to embrace downstream monetization of gas resources."
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