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The company will be using its own facilities to unload the next shipment of refinery equipment headed to the project as the items are too large to transported by road from Port Moresby.
The shipment of refinery equipment departed from Houston for Papua New Guinea, on May 1, 2003 and is expected to take about a month. A final shipment, including the balance of the refinery equipment is scheduled to leave Houston in June 2003.
Construction work on the refinery jetty is nearing completion, which will allow the company to off-load the equipment directly at the refinery site. The latest delivery includes refinery process vessels as well as the main heaters for the refinery.
InterOil is developing an integrated energy business in PNG consisting of an oil refinery, petroleum exploration, and retail assets.
The majority of product from the refinery is secured by contracts valued by the company at approximately US$1.4 billion with Shell Overseas Holdings Ltd. BP Singapore is the exclusive agent for all crude oil supplied to the refinery.
It is currently drilling the Moose well near Port Moresby.
