PNG Government and ExxonMobil announce intention to re-engage on P’nyang gas project

Oil Search
 has confirmed that the Papua New Guinea Government and Esso PNG P’nyang Limited, as operator of PRL 3 (P’nyang field), have jointly announced their intention to re-engage in the negotiations on the P’nyang project.

PNG Minister for Petroleum, the Hon. Kerenga Kua, said:

‘A series of workshops regarding the development of the P’nyang Gas fields will take place over the next couple of weeks and if all goes well, we can expect to sign a P’nyang Heads of Agreement around the end of this next month and a Gas Agreement thereafter.’

Diego Fettweis, Oil Search’s EVP Commercial, said:

‘This is a positive step towards the development of the P’nyang gas resource and signals the strength of support between the PRL3 joint venture and the Government of Papua New Guinea for a mutually beneficial outcome. We look forward to further progress in these negotiations and will support the PRL3 Operator through our 38.51% interest in the joint venture.’

Source: EnergyPedia

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