ExxonMobil PNG Antelope Limited has formally assumed operatorship of the Papua LNG Project following an agreement reached by project partners TotalEnergies, Santos and ENEOS Xplora in September.
The transfer places the project under the management of ExxonMobil, which also operates the PNG LNG Project, as the co-venturers work towards a final investment decision (FID) later this year.
Related news: https://www.postcourier.com.pg/exxonmobil-assumes-operatorship-of-papua-lng/
ExxonMobil PNG Antelope Limited (EMPNGA), an affiliate of Exxon Mobil Corporation, said it would work with the Papua New Guinea Government, Gulf and Central provincial governments, local communities and project partners to advance the project safely and efficiently.
EMPNGA chairman and managing director Dinesh Sivasamboo in statement yesterday said Papua New Guinea remained an attractive investment destination despite global uncertainty.
“The success of the ExxonMobil PNG-operated PNG LNG Project demonstrated what PNG can deliver, with the Papua LNG Project set to further strengthen the country’s position in the global energy landscape,” Mr. Sivasamboo said.
He welcomed the confidence placed in ExxonMobil by the project partners and governments and acknowledged TotalEnergies’ efforts to advance the project.
“We are honoured to assume operatorship of the Project and appreciate the confidence placed in ExxonMobil by our co-venturers, the Government of Papua New Guinea, and the Gulf and Central Provincial Governments,” he said.
Mr. Sivasamboo said ExxonMobil looked forward to working with all stakeholders to progress the project towards a final investment decision and support the next phase of Papua New Guinea’s liquefied natural gas development.
The company said the operatorship transfer built on its longstanding presence in Papua New Guinea and experience in LNG development and operations, while creating opportunities for collaboration with the existing PNG LNG Project.
Papua LNG is expected to generate construction jobs, support local businesses and deliver economic benefits to communities across the country.
Related news: https://www.thepngsun.com/papua-lng-landowners-other-stakeholders-meet-to-iron-out-issues-before-smooth-delivery-of-forum-outcomes/
The project is also part of the Government’s longer-term economic development plans, which include the intended development of the P’nyang LNG Project after Papua LNG, alongside other resources such as Muruk and Wildebeest.
Together, these developments are expected to support more than a decade of investment in Papua New Guinea.