Papua LNG discussions progressing, Exxon says

By SHIRLEY MAULUDU
DISCUSSIONS are progressing well between partners on the development of Papua LNG project in Gulf, according to ExxonMobil PNG Ltd managing director Andrew Barry.
Barry said it followed ExxonMobil’s acquisition of InterOil in February this year.
ExxonMobil bought all of InterOil’s assets in a deal estimated to be around US$2.5 billion (K7.71 billion).
The acquisition will add more natural gas to Exxon’s portfolio, and offer more reserves to supply for the company’s $19 billion (K58.4 billion) PNG LNG plant.
InterOil held a 35.5 per cent of the Petroleum Retention License (PRL) 15 of the Papua LNG project.
“It has only been in the last couple of months. We took over InterOil in February. And prior to the takeover, we could not talk to Total because that was InterOil’s business,” Barry said.
“So once that transaction was completed, we were able to get to Total and start to talk about that.
“The transaction was completed in February. Everything associated with the InterOil transaction has been completed.
“So progress is going very well.
“We are talking about what the synergies opportunities might be with PNG LNG and start to get into some of the engineering aspects of that. We couldn’t be happier to be part of that team with Total, Oil Search – be part of the team of PRL 15 of Papua LNG project,” he said.