ExxonMobil PNG Antelope Ltd has formally assumed operatorship of the Papua LNG project, with the co-venturers targeting a final investment decision later this year.
The transfer follows an agreement reached in September by project partners TotalEnergies, Santos and ENEOS Xplora, ExxonMobil said in a media release dated 15 October.
The company will work with the Papua New Guinea government, the Gulf and Central provincial governments, local communities and project partners to advance the development.
Dinesh Sivasamboo, chairman and managing director of ExxonMobil PNG Antelope, said the transfer reflected confidence in ExxonMobil’s experience in liquefied natural gas development and operations.
He cited the company-operated PNG LNG project as an example of the country’s capacity to deliver major energy developments, adding that Papua LNG could strengthen the country’s position in the global energy market.
Sivasamboo also acknowledged TotalEnergies’ work in advancing Papua LNG and said ExxonMobil looked forward to working with stakeholders towards an investment decision.
The operatorship transfer builds on ExxonMobil’s longstanding presence in Papua New Guinea and could create opportunities for collaboration between Papua LNG and the existing PNG LNG operation, the company said.
Papua LNG is expected to generate construction jobs, support local businesses and provide economic benefits to communities across the country.
The project forms part of the government’s longer-term energy development plans, which include the proposed P’nyang LNG project following Papua LNG, as well as potential developments involving the Muruk and Wildebeest gas resources.
ExxonMobil said these developments could support more than a decade of investment in Papua New Guinea.
The announcement did not specify a construction start date or provide an updated project cost. The final investment decision remains a key milestone before the project can proceed to its next stage.
