ExxonMobil

The Australia Awards - PNG LNG Scholarships will help to address the rural workforce gap in PNG LNG Project areas and encourage students to complete tertiary studies in the fields of health and education. 

Scholarships in health and education are being offered in select institutions in Papua New Guinea with successful applicants receiving full tuition fees, airfares and living allowances. 

Prime Minister Peter O’Neill officially opened the new office for the PNG LNG Project, ExxonMobil PNG (EMPNG) and Mobil Oil New Guinea (MONG).

The opening of the building was witnessed by key government officials, visiting US based executives from ExxonMobil, PNG LNG co-ventures, business and diplomatic representatives.

The office at Seven-Mile will serve as the company’s headquarters for all its operations within the country.

EMPNG is the developer of the $US18.8 billion of the PNG LNG project.

The discovery was the result of research funding provided by EMPNG, operator of the PNG LNG Project, to the University of Canberra to further support conservation in the area following EMPNG’s investment in research and engagement projects to protect Piku - the pig-nosed turtle.

To date, EMPNG has invested more than K2.6 million in protecting the endangered species.

Woodside confirmed in a statement to the ASX it would offer one of its shares for every four shares in the Papua New Guinea-focused Oil Search.

Before the offer Oil Search had a market capitalisation of $10.24 billion, while Woodside was valued at $25.2 billion.

The offer represented an approximately 13 per cent premium on Oil Search's pre-bid price.

Oil Search shares surged more than 14 per cent on the news to $7.70, while Woodside had fallen back by 2.8 per cent to $29.74 at 12pm (AEST).

They also were welcomed by Prime Minister Peter O’Neill and his wife Lynda Babao-O’Neill.

Mr O’Neill  welcomed the visit by the chairman and chief executive officer of ExxonMobil Corporation, Mr Rex W. Tillerson, and senior executives who visited Papua New Guinea this week.
The Prime Minister met with Mr Tillerson at a welcome function in Port Moresby yesterday, where Mr. Tillerson introduced the board of directors who had travelled from the United States.