PORT MORESBY POWER PROJECT - UPDATE PNG Mining & Petroleum Investment Conference. 4 th December 2018

Transcription

1 PORT MORESBY POWER PROJECT - UPDATE PNG Mining & Petroleum Investment Conference 4 th December 2018

2 CONTENTS NiuPower Recap Port Moresby Power Station Project Current Status Where to Now Port Moresby Power Project Update NiuPower Limited Page 1

3 CONTENTS NiuPower Recap Port Moresby Power Station Project Current Status Where to Now Port Moresby Power Project Update NiuPower Limited Page 2

4 NIUPOWER RECAP Kumul Petroleum (KPHL) and Oil Search had both responded to the Government s Electricity Industry Policy (EIP) of 2011 which sought to bring more private sector investment into the industry In late 2016 KPHL and Oil Search joined forces to create NiuPower Limited - 50% owned by each of KPHL and Oil Search NiuPower operates on a commercial basis with our sole focus being development of power generation in PNG fueled by PNG natural gas In August 2017 NiuPower committed to developing the Port Moresby Power Station PNG s first dedicated grid connected power station fueled by PNG natural gas Port Moresby Power Project Update NiuPower Limited Page 3

5 CONTENTS NiuPower Recap Port Moresby Power Station Project Current Status Where to Now Port Moresby Power Project Update NiuPower Limited Page 4

6 PORT MORESBY POWER STATION Port Moresby Power Project Update NiuPower Limited Page 5

7 PORT MORESBY POWER STATION NiuPower s first investment 58MW gas-fired facility located adjacent to the PNG LNG liquefaction plant NiuPower 58MW Power Station 100+ MW Footprint New PPL 66kV HV Transmission Line PNG LNG Project Liquefaction Plant High efficiency Wartsila W20V34SG gas engine generators US$100+ million investment underpinned by a long term Power Purchase Agreement (PPA) with PNG Power Scheduled to be on-line 1Q 2019 New PPL Gerehu substation Port Moresby Power Project Update NiuPower Limited Page 6

8 CONTENTS NiuPower Recap Port Moresby Power Station Project Current Status Where to Now Port Moresby Power Project Update NiuPower Limited Page 7

9 STATUS UPDATE Ground Breaking November 2017 Port Moresby Power Project Update NiuPower Limited Page 8

10 STATUS UPDATE Initial Site Development February 2018 Port Moresby Power Project Update NiuPower Limited Page 9

11 STATUS UPDATE Foundations Commence March 2018 Port Moresby Power Project Update NiuPower Limited Page 10

12 STATUS UPDATE Materials Being Received and Sorted May 2018 Port Moresby Power Project Update NiuPower Limited Page 11

13 STATUS UPDATE Engine Hall Erection June 2018 Port Moresby Power Project Update NiuPower Limited Page 12

14 STATUS UPDATE First Generator Set On Site July 2018 Port Moresby Power Project Update NiuPower Limited Page 13

15 STATUS UPDATE Starting to Look Like a Power Station August 2018 Port Moresby Power Project Update NiuPower Limited Page 14

16 STATUS UPDATE Last Generator Set Installed August 2018 Port Moresby Power Project Update NiuPower Limited Page 15

17 STATUS UPDATE Nearing Completion October 2018 Port Moresby Power Project Update NiuPower Limited Page 16

18 STATUS UPDATE Success Draws Attention October 2018 Port Moresby Power Project Update NiuPower Limited Page 17

19 CONTENTS NiuPower Recap Port Moresby Power Station Project Current Status Where to Now Port Moresby Power Project Update NiuPower Limited Page 18

20 WHERE TO NOW Mechanical completion of the project will occur within the next few weeks The gas supply piping from PNG LNG is complete Commissioning will commence around year end The commissioning and testing programme takes 10 to 12 weeks We will be online in 1Q 2019 providing: Reliable power to Port Moresby The lowest cost dedicated grid connected thermal generation in the country A material reduction in the environmental impact from power generation in PNG Port Moresby Power Project Update NiuPower Limited Page 19

21 WHAT ELSE? NiuPower have demonstrated that private sector investment in gas-fired power generation is practical It needs to be undertaken within the context of a national visionary strategic framework Using PNG produced natural gas for power generation gives a highly cost effective outcome and eliminates the need for imported fuels Ensuring sensibly priced gas is available for thoughtful expansion of PNG s generation assets needs to be a priority Port Moresby Power Project Update NiuPower Limited Page 20

22 QUESTIONS Port Moresby Power Project Update NiuPower Limited Page 21