Exxon Unveils Drilling At $16B Papua New Guinea LNG Site

Law360, New York (July 30, 2012, 8:13 PM EDT) -- ExxonMobil Corp. has started drilling at a natural gas field in Papua New Guinea, a $15.7 billion liquefaction project with broad export-credit support that will begin shipping gas to four Asian buyers by 2014, it said Monday.

Drilling at the Hides field, located in the Southern Highlands province of the Asia-Pacific island, began in June, according to a statement from Esso Highlands Ltd., the Exxon subsidiary managing the project. Hides is one of two drill sites for the Exxon-operated Papua New Guinea LNG project, which is...
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