ExxonMobil given green light on PNG gas project
PORT MORESBY, February 22, 2022 – ExxonMobil has signed a deal with the government to go forward with the USD 9-billion P’nyang gas project in Papua New Guinea, co-venturer Santos announced today.
The ExxonMobil-led project’s participants include affiliates of Australian energy company Santos and Japan’s JX Nippon Oil & Gas Exploration Corporation. State-run Kumul Petroleum is expected to join the group.
New facilities to deliver the gas will be built in Western Province and will connect to the PNG LNG export facility near Port Moresby.
Specific terms of the deal were not disclosed and are subject to the final investment decision of the consortium.
P’nyang field is estimated to contain 125 bcm (4.4 tcf), with gas production expected to be around 21.2 mcm (750 mcf) per day.