ExxonMobil

PM announced MGC to decide on Pnyang

Prime Minister Marape announced this in a statement after negotiations between the SNT and ExxonMobil failed to reach an Agreement on the P'nyang LNG Project.

The Prime Minister stated his displeasure over ExxonMobil failing to migrate towards a mid-point which the State takes home a better deal, instead of terms similar to concession-based gas agreements PNG.

He said he is satisfied that the SNT has subscribed to the mandate bestowed upon Petroleum Minister, Kerenga Kua, and ExxonMobil has been told what their intentions are.

Western Leaders back PM on Pnyang

Western Governor, Taboi Awi Yoto, and North Fly MP, James Donald, announced in a joint statement their endorsement of the Prime Minister stance to stop negotiations and focus on other resource projects currently in the pipeline.

According to the statement the leaders said PNG was entitled to a fair deal. And after the PNG LNG Project, they expectied ExxonMobil and project partner, Oil Search, to display commercial fairness and reasonableness.

The leaders said the companies chose to discard these core virtues.

Basic LNG framework agreed to: PM

Following the signing of the Memorandum of Understanding between the State and Total and its partners, ExxonMobil and Oil Search, the Prime Minister said they are happy with the current framework.

ExxonMobil evading tax, Opposition claims

According to a statement issued by Mr Pruaitch, he said there is no plausible reason why ExxonMobil, as the largest equity holder in the US$20 billion venture, has never been the single largest company tax payer since LNG exports commenced in 2014.

The Opposition leader stressed that as an unincorporated joint venture, all five joint venture partners, including Kumul Petroleum, adopt identical accounting standards so the share of profits and taxable income of each partner is broadly comparable and should reflect their individual equity holdings.

Komo airfield landowners give 14-days ultimatum

The landowners said there is no formal agreement between them, the Government and ExxonMobil and called for a new agreement to be established to cater for their royalty payments.

The landowners are from the 16 ILG clans of the Komo airfield.

The landowners spokesperson Michael Tiki said the Government continues to fail the legitimate landowners by not honoring the UBSA and LBSA agreements in terms of royalty benefits, business development grants, Infrastructure Development Grants and High Impact Projects.

Exxon resumes PNG LNG productions

LNG exports are expected to resume soon.

One train is currently operating at the LNG plant near Port Moresby. The plant’s second train is expected to restart as production is increased over time.  

During the period that production was shut-in, ExxonMobil was able to complete unrelated maintenance scheduled for later in the year to allow for more efficient operations in the months ahead.

ExxonMobil leads assessment and relief team

A 10 member team made one of the first visits possible to the area since the earthquake.

They included The United Church, The Salvation Army, the International Organisation for Migration, the Adventist Development and Relief Agency (ADRA) and the United Nations Development Programme (UNDP),

The team delivered some basic essentials such as shelter, water and sanitation support to the Para Clinic whilst rapidly assessing the level of damage, the immediate needs of those affected, and how resources can be mobilised and local health centres supported.

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Exxon global operations manager visits PNG

As part of her visit to PNG, Leyla Rzakulieva (Za-ku-li-va), was present on Thursday to witness the handing over of the K200,000-plus community hall to Lealea Village outside Port Moresby.

She says she is pleased with the work of the local team and amazed at the country’s scenery.

Rzakulieva made a quiet and unannounced entry into Lealea Village to witness the handing over of the community hall sponsored by the company.

Rzakulieva, who is in the country for the first time and visiting Port Moresby, said she was impressed with the work so far of the local division.

New hall for Lealea, Papa courts

The hall will be used for village court sessions for the Buria Village and its 13 magistrates from Papa and Lealea Village.

Currently all court sessions are held at the Lealea Fish Market, also funded by Exxon, which will be returned for its original purpose.

The new hall cost K234,000 and will also be used to host other community events.

This is the first handover of a number of infrastructure projects carried out by ExxonMobil in 2017.

ExxonMobil encounters hydrocarbons

“We are currently evaluating the well results and together with our co-venture partners will assess the P’nyang field resource potential and development pathway,” said Liam Mallon, president of ExxonMobil Development Company.

“We will work with the government of Papua New Guinea as we undertake this work.”

The well was safely drilled to 8,940 feet (2,725 meters), reaching high-quality, hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones, consistent with pre-drilling expectations. The well confirms the southeast extension of the field.