20 Apr 2012

ExxonMobil discovers more gas in PNG exploration

5:30 pm on 20 April 2012

ExxonMobil has discovered more gas in Papua New Guinea's Western Province, according to its LNG Project partner Oil Search.

The Wall Street Journal reports that the find is a sidetrack of the recent P'nyang discovery, firming up the potential of Exxon's 15.7 billion US dollar gas-export joint venture.

Exxon and partners including Oil Search and Australia's Santos Ltd want to ship liquefied natural gas from the foundation stage of PNG LNG to Asian buyers in 2014.

They are trying to find enough new gas to expand the massive terminal to three LNG production units from the original two currently under construction.