ExxonMobil's Subsidiary Wins Approval For PNG LNG Project's EIS

Published: 28-Oct-2009

Esso Highlands Limited (Esso Highlands), a subsidiary of Exxon Mobil Corporation (ExxonMobil) and operator of the Papua New Guinea (PNG) liquefied natural gas (LNG) project, announced that the Government of Papua New Guinea, Department of Environment and Conservation, has approved the project's Environment Impact Statement (EIS) which defines how the project will manage and meet its environmental commitments.

The Impact Statement contains assessments undertaken by environmental experts with years of experience working in Papua New Guinea and information from the current oil field operations, resulting in the most detailed and definitive environmental assessment ever completed in Papua New Guinea.

"We are pleased that the PNG LNG project has secured approval of its overall environmental assessment by the State of PNG", said Peter Graham, managing director, Esso Highlands. "This is another important project milestone, as it allows the project team to secure final approval for the detailed environment management plans which will guide implementation of the construction works.”

The PNG LNG project will continue to work with the Department of Environment and Conservation, other Government Departments and its potential lenders to secure related environmental and social management plan approvals. A final investment decision on the project is expected in late 2009.

The PNG LNG project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and LNG plant facilities. Participating interests are ExxonMobil (through various affiliates, including Esso Highlands as operator) 41.5%, Oil Search Limited 34.0%, Santos Limited 17.7%, Nippon Oil Corporation 5.4%, Minerals Resources Development Company 1.2% and Eda Oil Limited 0.2%. (Participation will change when PNG State nominees join as equity participants at a later date.)

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