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EXXONMOBIL PNG firm keen to expand LNG exploration

Admin | 10:58 PM | |
EXXONMOBIL PNG Limited is keen to expand into other potential liquefied natural gas areas in the country following the completion and production of the US$19 billion (K54.7b) PNG LNG project, an official says.
ExxonMobil regional exploration vice-president Kim Bates said the company would not stop with the PNG LNG project.
“In the last five years, together with our joint venture partners, we invested more than K1 billion in exploration alone,” Bates said during the PNG Mining and Petroleum conference in Port Moresby yesterday.
“We are currently investing to confirm resources for potential expansion of the PNG LNG project including future plans with Oil Search for exploration drilling north of Juha and drilling on the P’ynayng field in Western.
“The success of the PNG LNG project, and the quality of our exploration portfolio, is putting PNG at the forefront of ExxonMobil Corporation and investment focus and we look forward to exploring more in PNG.
“Our presence in PNG does not end with the PNG LNG project, which is now well and truly into production and we want to expand PNG’s legacy.”
She said the full extent of PNG’s energy resources were still unknown, despite having had exploration for more than a century.
“Our portfolio encompasses very high quality opportunities that will ultimately add significant value to our existing portfolios,” she said.
“We also have a very strong record of developing and commercializing the most challenging opportunities.