Exxon Eyes New Gas Source To Expand $15.8B PNG Project

Law360, New York (October 23, 2012, 3:13 PM EDT) -- Exxon Mobil Corp. is close to settling on a source of gas to expand its $15.8 billion liquefied natural gas export project in Papua New Guinea, according to a quarterly report released Tuesday by its junior partner, Oil Search Ltd.

Oil Search said the companies are conducting pre-feasibility engineering and design, or FEED, studies to determine whether the newly discovered P'nyang field could supply a possible third train of the project. Exxon discovered the P'nyang field in April, fueling speculation about a possible expansion of the...
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