Operations
Progress is making a significant step forward in its formal growth strategy for the North Montney by entering into a 50/50 joint venture to develop its Altares, Lily and Kahta properties with PETRONAS, the national oil and gas company of Malaysia. In addition to the upstream development in the North Montney, PETRONAS and Progress will establish an LNG export joint venture to be 80 percent and 20 percent owned respectively. The LNG Export Joint Venture will launch a feasibility study to evaluate building and operating a new LNG export facility on the West Coast of British Columbia.
The map below indicates Progress’ total land holdings in the northeast British Columbia Foothills and the areas included in this Joint Venture.
Listen to Progress’ Joint Venture Conference Call here
View a copy of Progress’ Joint Venture news release
Additional project details can be found in our Joint Venture backgrounder
A larger PDF version of the above map can be accessed here
View a copy of PETRONAS’ Joint Venture news release