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ExxonMobil Invested K3 Billion In Growing PNG Businesses


EXXONMobil PNG Limited, the operator of PNG’s Natural Liquefied Gas (LNG) project, in its project updates highlighted that about K3 billion has been spent on growing Papua New Guinea’s businesses since the project started in 2018; including K866 million with Lanco.


ExxonMobil PNG production manager Keith Killian in his update on Oil and Gas updates and developments at the PNG Chamber of mines and petroleum conference on developing shared value, highlighted some of the company’s project investments, exports, and infrastructure spending outlook that underpins the firm commitment in the country’s development and growth in the industry.


Mr Killian said growing local businesses has been a key priority since the project began. “Sixteen land owner (Lanco) companies throughout our operations continue to support PNG LNG business.” He also stated that some 250 LNG businesses are contracted by PNG LNG to provide varieties of business services to the operation of the project.


“Since production start up through 2018 K3 billion has been spent with PNG businesses including K866 million with landowner companies,” said Mr Killian.


“To help develop these businesses for success, we have long supported training opportunities through the IBBM enterprise centre and continue to make investments in training, mentoring and advisory services,” said Mr Killian.


“It’s extremely satisfying to see the Lanco’s and other PNG businesses developed by grow and diversify creating opportunity for many more Papua New Guinean.”


He said the company has also invested more than K930 million in infrastructure development alone throughout the project duration,” he said.


“We have been operating for well over five years now since the production and operations of the PNG LNG project; I am extremely proud of the achievement the project has achieved and what it has done for the country,” said Mr Killian.


Mr Killian said PNG LNG continues to deliver strong performance in Papua New Guinea as an industry recognised as world class LNG supplier.

Continue reading at https://postcourier.com.pg/exxonmobil-invested-k3-billion-in-growing-png-businesses/ | Post Courier