LEADING PNG oil and gas company Oil Search Ltd has reported that strong interest has been shown in the purchase of additonal offtake from the PNG LNG Project.
Oil Search said PNG LNG Project operator ExxonMobil has continued marketing up to 1.3 million tonnes per annum (MTPA) from the PNG LNG Project, with high levels of interest received from potential customers.
Should contracts be secured for the full 1.3 MTPA being offered, this would take total contracted volumes to 7.9 MTPA.
The PNG LNG venture is considering another of options for further expansion of the project, possibly by as much as two additional LNG trains and these plans have been boosted by recent drilling and reservoir studies which have added significantly to the known gas reserves held by the joint venture.
The recent exciting Muruk gas discovery near Hides has also added momentum to potential expansion plans.