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By Staff Reporter : PNG Today

19 billion dollar PNG LNG doing well

The 19 Billion US Dollar or 30 billion Kina PNG LNG Project is doing well despite the unfavourable economic environment brought about by a fall in oil prices.

Oil Search Managing Director Peter Botten told the PNG Australia Business Forum yesterday, that the future of the project is bright ahead of new explorations and seismic drilling activities around the country.
Most notable fields include the Gulf Elk Antelope fields which make up the Papua LNG and the Pn'yang Gas field in Western Province.

Mr Botten said the PNG LNG Project's performance is outstanding, adding the operator Exxon Mobil PNG Limited has done an outstanding job in operating the world class project.
"It is performing well above capacity, for the last couple of months it has been doing eight point hthree million tonnes above the capacity it was originally thought of.
That was originally six point six, it has been in terms, of safety in terms of [performance, in terms of reliability an absolutely outstanding project which represents the platform for further growth of the gas business in png," Mr Botten said....read more mining News on >> Pacific Mining Watch 
NBC NEWS

Posted by Staff Reporter : PNG Today on 12:54 AM. Filed under , . You can follow any responses to this entry through the RSS 2.0. Share this Article

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