The Papua New Guinea Government has agreed to issue the Petroleum Development License and associated pipeline licenses for the P'nyang field to ExxonMobil PNG Limited.
The agreement was made through an MOU signed between the state and ExxonMobil PNG Limited which also provides for electricity supply by ExxonMobil. Prime Minister Peter O'Neill says the potential for expanding LNG production is considerable and the government is exploring opportunities to further increase the sector. He says the appraisal of the field is the logical next step towards the ongoing expansion of the LNG production in the country. Mr O'Neill says the issuing of the license will see a third LNG train to be built in the country. ExxonMobil Subsidiary - Esso PNG P'nyang Limited who operates the P'nyang field and its co-venture partners will commence preparations to drill a P'nyang appraisal well within two years of the awarding of the petroleum development license. Preparations for the appraisal drilling are anticipated to commence this year depending on the progress of technical work, permitting and budgeting.
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