P’nyang gas allowed to have seperate financial terms

THE P’nyang gas will have its own financial terms and will not be part of the Papua LNG project, says Minister for Petroleum Dr Fabian Pok.
Pok said the licence was owned by Eso, a subsidiary of ExxonMobil.
“They have not complied with the requirements but they were given an extension of 18 months to complete all the requirements. They have six more months before they develop P’nyang,” he said.
“It will not be an extension because the licence is owned by the same company. It will have its own financial terms and will not be part of the Papua PNG LNG.
“They have six more months to complete the 18 months that have been given. But I can assure the people that P’nyang will not be considered as an extension but it will be considered under its own physical terms.”
North Fly MP James Donald said the position of the landowners was that the P’nyang and other gas fields in Western province would not be tied up with the PNG LNG project.
Instead they will be developed as stand along projects to form what they prefer to be known as Western LNG with processing facilities built in their province.
Pok assured the people of North Fly and Western that it would not be considered an extension but under its own physical terms.