PNG LNG Execution Milestones

Responsible Forecast / Status Interface Key Impacts Mitigating

EPC Owner Milestone Outlook Actual (Stoplight) EPC Drivers Due to Forecast Change Actions
Pile driving equipment not at site until
C1 Roxburgh Utilities Area Handover (EPC4) Sep-11 Oct-11 0.9 EPC4 Weather to finish top capping None
Oct. Pile double-jointing begun.
Current use as laydown area and Staged handover of Industrial Park
C1 Roxburgh Handover Industrial Park (EPC4) Sep-11 Oct-11 1.2 EPC4 None
temporary HGCP access road planned.

EPC2 Roxburgh Caution Bay Shorepull Oct-11 Oct-11 0.5 EPC3 NA NA NA

EPC4 Roxburgh Commence Piling Oct-11 Oct-11 0.0 - NA NA NA

EPC5B Roxburgh Airfield aggregate stockpile reaches 1kT Nov-11 Nov-11 0.0 - NA NA NA

Schedule currently under review;

EPC5B Roxburgh Runway Pavement Commenced Nov-11 Jan-12 2.0 - Weather / Earthworks None
pursuing SIMOPS opportunities.

C1 Roxburgh Handover Rotator Housing (EPC4) Dec-11 Dec-11 0.0 EPC4 NA NA NA

C1 Roxburgh Well Pad B Access Available to Drilling Dec-11 Dec-11 0.0 Drilling NA NA NA

C1 Roxburgh Partial Process Area Handover (EPC4) Dec-11 Dec-11 0.0 EPC4 NA NA NA

EPC2 Roxburgh 100% Line-pipe Available (delivered to PNG) Dec-11 Dec-11 0.0 - NA NA NA

EPC4 Roxburgh Complete Main Camp - Phase 2 Dec-11 Mar-12 3.0 - Delay in camp area handover Potential bed constraint Keeping pioneer camp in place longer

EPC2 Roxburgh Omati River Shorepull Jan-12 Jan-12 0.0 EPC5A NA NA NA

Potential to push out completion of Schedule currently under review; total

EPC5B Roxburgh Complete Runway Earthworks Mar-12 Mar-12 0.0 - Weather / Security
pavement / Nav Aids earthwork quantities reduced

EPC5A Roxburgh Omati to Kopi Pipe Mechanical Completion Mar-12 Mar-12 0.0 - NA NA NA

EPC4 Roxburgh Complete Main Camp Construction Apr-12 May-12 2.0 - Delay in camp area handover Potential bed constraint Keeping pioneer camp in place longer

C1 Roxburgh Full Process Area Handover (EPC4) Apr-12 Apr-12 0.0 EPC4 NA NA NA

EPC2 Roxburgh Above Water Tie-in May-12 May-12 0.0 - NA NA NA

EPC2 Roxburgh Offshore Pipeline Ready for Hydro test Jun-12 Jun-12 0.0 - NA NA NA

EPC4 Roxburgh Complete Piling Jun-12 Jun-12 0.0 - NA NA NA

EPC2 Roxburgh Offshore Pipeline Turnover / Omati Tie-in Oct-12 Oct-12 0.0 EPC5A NA NA NA

EPC4 Roxburgh Complete U/G Piping Installation - Process Area Oct-12 Oct-12 0.0 - NA NA NA

EPC5A Roxburgh Kopi to Kutubu Pipeline Mechanical Completion Nov-12 Nov-12 0.0 - NA NA NA

EPC5B Roxburgh Komo Airfield Cargo-ready Dec-12 Dec-12 0.0 EPC4 NA NA NA

EPC5A Roxburgh Final Handover Omati to Kutubu Dec-12 Dec-12 0.0 EPC3 NA NA NA

EPC5A Roxburgh Kutubu-Hides Commissioning Complete Jul-13 Jul-13 0.0 - NA NA NA

EPC5A Roxburgh Spineline Commissioning Complete Aug-13 Aug-13 0.0 - NA NA NA

EPC5A Roxburgh Onshore Pipeline Turnover Oct-13 Oct-13 0.0 EPC4 NA NA NA

EPC4 Roxburgh HGCP Mechanical Completion Jan-14 Jan-14 0.0 - NA NA NA

EPC4 Roxburgh Feed Gas Available at HGCP Apr-14 Apr-14 0.0 EPC3 NA NA NA

On or Ahead of Caution: could be Critical: activities are

Schedule delays, activities slipping mitigation
on watch list underway