INDUSTRY BRIEFS

PAPUA NEW GUINEA wants to refinance its 22.5% interest in the Kutubu oil development project to gain immediate access to its share of production. Kutubu, which started up in June, is expected to produce 100,000-140,000 b/d (OGJ, July 27, p. 46). A Chevron Niugini Pty. Ltd. group paid all up front development costs, and the government is waiving its right to production until it has reimbursed the group for its share of costs, probably late next year. The government seeks to raise about $399

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