ExxonMobil, Oil Search, MRDC and JPP (Japan PNG Petroleum) will continue to commercialise the Hides, Kutubu, Gobe and Moran fields in the Southern Highlands of PNG as well as the new Angore and liquids rich Juha fields.
The project participants are waiting to move the project to the next phase of development once sufficient foundation customers have made commitments. As operator ExxonMobil will be responsible for gas marketing.
"We remain confident in the investment climate in PNG and believe that demand for competitively priced gas in Australia could provide a market opportunity for PNG gas," said Rob Franklin, ExxonMobil Gas and Power Marketing Company, vice president of new business development.
The participating interests in the new project are ExxonMobil 40.67% (Operator), Oil Search 51.37%, JPP 4.21% and MRDC 3.75%.
