CHEVRON OUTLINES PAPUA NEW GUINEA PROJECT
A group led by Chevron Nuigini Pty. Ltd. has submitted plans for development of fields in Papua New Guinea's southern highlands. The Chevron group's application for a petroleum development license sets the stage for Papua New Guinea to become a crude oil exporter in the mid-1990s. Total development cost for Iagifu, Hedinia, and Agogo fields earlier was estimated at $850 million (OGJ, Feb. 19, p. 31). Plans call for production to start in third quarter 1992 and build to 90,000 b/d.