Petroleum Minister, Kerenga Kua, together with the Chairman of Esso PNG P’nyang Limited and Managing Director of ExxonMobil PNG, Mr. Peter Larden, announced the parties’ intention to re-engage in the negotiations on the P’nyang project.
Key takeaways:
Development of the P’nyang field resource in the Western Province
Supports the phased development of the Papua and P’nyang projects
State and Esso PNG P’nyang Limited to work closely towards a P’nyang Gas Agreement
The intent to develop the P’nyang field helps demonstrate the encouraging growth opportunities
for our operations in Papua New Guinea,” said Peter Larden.
“Together with our joint venture partners, we look forward to working closely with the PNG Government and the landowners to progress the P’nyang field development proposal and secure the licenses needed to develop this important resource.”
The benefits of phasing the construction of both Papua and P’nyang projects over an 8 year
period shall be a substantial boost to the economy and the country. This tremendous investment
would extend our gas pipeline infrastructure into the country’s Western Province and have a
meaningful and lasting economic impact for Papua New Guinea and its people,” said Minster
Kua.
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” Kua said.
