Papua New Guinea: Gas Exploration Exxon Mobil Declares 84 % Increase in Gas Resource at P’nyang Field
The size of the gas resource has now increased to 4.36 trillion cubic feet. This scenario supports Exxon Mobil’s plans to expand its operations in Papua New Guinea.
Texas/USA – Exxon Mobil Corporation has announced that the size of the natural gas resource at the P’nyang field in Papua New Guinea has increased to 4.36 trillion cubic feet of gas, an 84 % increase from a previous assessment completed in 2012. The increase supports a potential significant expansion of operations in the country.
The independent recertification study by Netherland Sewell and Associates follows the successful completion in January of the P’nyang South-2 well, located in the Western Province of Papua New Guinea.
The results support Exxon Mobil’s discussions with its joint venture partners on a three-train expansion concept for the PNG LNG liquefied natural gas (LNG) plant near Port Moresby, with one new train dedicated to gas from the P’nyang and PNG LNG fields and two trains dedicated to gas associated with the Papua LNG project. The development concept, which would add approximately 8 million tonnes of LNG annually, would double the capacity of the existing LNG plant operated by Exxon Mobil.
The P’nyang field is located within petroleum retention license 3, which covers 105,000 acres (425 square kilometers). Exxon Mobil affiliates operate the license with a 49 % interest in the block. Affiliates of Oil Search have a 38.5 % interest and JX Nippon has 12.5 % interest.