Exxonmobil is expected to sell 110 LNG cargos to customers across the Asia Pacific at the end of next month.
Managing director Andrew Barry said this yesterday at the Mining and Petroleum conference.
Mr Barry said this will add to more than 370 cargos sold since production first began in 2014 with no late deliveries, creating a reputation of reliability and quality.
He said following a recertification of the PNG LNG project fields earlier this year, the company is now out in the Asian market with an additional 1.3MTA sale opportunity and is seeing significant interests.
“The consistently high year on year performance of the PNG LNG Foundation Project is a distinctive model for reliable LNG operations in the Asia Pacific region and around the world,” Mr Barry said.
“The project should particularly be recognised for the benefits it has brought and the positive impact it is having on the lives of many Papua New Guineans.”
He said the successful completion of its acquisition of InterOil this year indicates the great confidence ExxonMobil has in the country and the opportunity which exists to expand business significantly and deliver additional benefits to PNG.
In addition to the Elk Antelope interests, importantly, the InterOil acquisition also provided ExxonMobil with significant new exploration acreage.
Mr Barry said the K1 billion Angore gas field will see a new 11 kilometre pipeline being installed at the Angore well pad in 2018 and completion of project in 2019.
ExxonMobil is also hoping to receive some preliminary results from the P’nyang well in early 2018 and will continue to work with Total, as operator of Papua LNG, to support them in the development of the Elk-Antelope fields.
He said the new investments built on an outstanding foundation will help increase jobs for Papua New Guineans, improve local business opportunities, expand community development and contribute to increased government revenues.
“But there is a lot of work to be done and timing of investments is critical to ensuring the benefits are realised,” Mr Barry said.
“We have opportunities we are pursuing. Key to developing these opportunities is expansion of the LNG plant.”
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