PNG LNG project developer ExxonMobil and its partners are expected to make a final investment decision (FID) tomorrow.
Once the FID is made, ExxonMobil will proceed with awarding major contracts for early works to begin.
“It is all set to go,” an industry source told The National yesterday.
State Enterprises Minister Arthur Somare also confirmed that all was set to go tomorrow and the Government was keen to reach the FID with ExxonMobil to pave the way “for this very significant project to get off the ground”.
Peter Graham, managing director of ExxonMobil’s subsidiary Esso Highlands, said the developers were keen and geared up to move the project “successfully forward”.
“This is a massive project and we realise that it will change the future of this nation and we are ready to take it forward,” he said during a licence-based benefits sharing agreement (LBBSA) forum last week.
Esso’s senior public and government affairs adviser, Stuart Symons, also told The National earlier that “the PNG LNG project remains on track to make a final investment decision”.
Mr Symons said ExxonMobil was keeping its finger on the pulse and was just waiting for the Government to complete its processes.
Mr Symons was optimistic the LBBSA forums would achieve tangible outcomes to pave the way for the FID.
“These Government-led forums are an important step in the petroleum licensing process,” he said.
To prove its commitment, ExxonMobil has released its National Content Plan and the relocation plan to Southern Highlands Governor Anderson Agiru for his perusal.
“Following these forums, communication with landowners about national content will continue through the PNG LNG project’s land and community affairs village liaison officers,” Mr Symons said.
“The PNG LNG project is not under threat. We remain on track to make a final investment decision.”
Today, Hides (PDL1), Juha (PRL2) and Angore (PRL11) landowners are expected to sign the LBBSA ahead of the FID tomorrow.