ExxonMobil agree to go public on cost

National, Normal

ExxonMobil subsidiary Esso Highlands Ltd and Oil Search PNG Ltd have agreed to publish what they have paid to the PNG government and how much they have spent so far.
Oil Search field operations Superintendent, Michael Uiari gave this confirmation at a meeting held at the Centre for Environmental Research and Development (CERD) last Friday.
Uiari met with CERD’s director Matilda Koma and campaign officer Baru Amevo to discuss the establishment of the PNG Publish What You Pay (PWYP) Coalition.
The PNG PWYP Coalition once established will become part of the international network which has been the force behind the Extractive Industries Transparency Initiative (EITI).
EITI is a global standard that provides a mechanism where payments by international oil, gas and mining companies to governments are disclosed to the public.
Uiari said Oil Search PNG, ExxonMobil and its major LNG partners decided at a board meeting on Oct 22 that they would be publishing to PNG citizens how much they had paid to the PNG government in the initial stages of the project by end of first quarter next year.
CERD, the only mining and oil and gas watch NGO, is spearheading the launch of the PNG PWYP Coalition on Friday.
CERD is inviting key stakeholders from the government, the industries and civil society groups to attend and support the coalition.
The objective of the PNG PWYP is to influence the government to agree to adopt EITI.
EITI allows for oil, gas and mining companies to publish how much they pay to host country governments and for those governments to publish what they earn from these companies.
Koma thanked Oil Search and Esso Highlands Limited for their support.
She said that the PNG Publish What You Pay coalition would become part of the international network which has been the force behind the EITI.