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Oil Search aims to revive talks on PNG LNG expansion

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Reuters is reporting that Oil Search Ltd. is working to revive talks between Exxon Mobil Corp and the Papua New Guinea government, regarding a plan to double the country’s natural gas exports.

Oil Search’s new CEO, Keiran Wulff, has told Reuters that he hopes that negotiations could resume within weeks.

Talks with Exxon, regarding the development of the P’nyang gas field to feed an expansion of Exxon’s PNG LNG facility, were abandoned by the government in January. According to Reuters, this was due to: “a push to reap more benefits from resources projects for the impoverished South Pacific nation.”

Oil Search’s growth prospects are reportedly tied to a joint plan, led by Total, to develop P’nyang and Papua LNG to feed three new trains at Exxon’s PNG LNG plant. All partners in the project recognise shared infrastructure as the most efficient way for the development of P’nyang and Papua LNG to be undertaken.

Earlier this month, Darren Woods, Exxon Mobil’s Chief Executive, commented that his company hoped to revive talks on P’nyang, with the view of securing a ‘win-win proposition’.

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