K28 billion project signed - PNG/Mining
Brian Gomez; 17/3/08
ExxonMobil announced last Friday the signing of a joint operating agreement with its partners in the K28 billion PNG LNG project. Oil Search managing director Peter Botten said the deal paved the way for the start of critical front-end engineering and design work, which would commence after the signing of a gas agreement with the PNG Government. He said this was a major step forward in commercialisation of a world scale LNG project and for development of the company’s large gas reserves. “Given the project’s importance both to Oil Search and PNG, supporting the project operator ExxonMobil to deliver this project, is our highest priority,” Mr Botten said.
See: http://www.thenational.com.pg/031708/nation2.htm
LNG project could double GDP; Anton Huafolo; 17/3/08; http://www.thenational.com.pg/031708/biz5.htm