Papua New Guinea fails to step on the gas
Despite promising resources, disputes over payment terms are stalling progress
ExxonMobil's latest discovery in hydrocarbon-rich Papua New Guinea hangs under a cloud of continuing unrest among landholders that threatens the country's gas-exporting ambitions. In mid-January, the company reported finding gas in the onshore P'nyang field, adding to what Liam Mallon, president of ExxonMobil Development, describes as a "rapidly growing inventory of low cost-of-supply natural gas in PNG". The supermajor has a 49% interest in the block, with drilling operator Oil Search having 38.5% and JX Nippon holding the remaining 12.5%. However, the PNG government—which is sitting on some of the cheapest gas in the region—has been embroiled in a simmering years-long dispute over its fail
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
