- Completed acquisition of InterOil Corporation, increasing PNG resource base to 8 Tcf of natural gas
- Started up Longford gas conditioning plant and Kipper field; record production of 400 Mcfd at Gippsland
- Capable of exceeding 16 Mta of LNG at Gorgon Jansz
Papua New Guinea (PNG)
The ExxonMobil-operated PNG LNG project recently reached the production equivalent of 8.3 million tonnes per year, a 20 percent increase over the facility’s original design. It is considered among the world’s most reliable LNG facilities.
In 2017, we completed the acquisition of InterOil Corporation, enabling us to expand on our already-strong position in PNG. This acquisition provides us with access to multiple discovered resources, including Elk and Antelope. We plan to leverage our existing infrastructure at the PNG LNG plant to capture synergies and further reduce costs for these developments.
We also expanded our exploration position in PNG, capturing 11 exploration blocks. Our total PNG position is approximately 13.8 million acres. In 2017, we drilled the Muruk-1 well and sidetracks, making a new natural gas discovery near the Hides field. A second Muruk well is planned in 2018.
ExxonMobil operates the Gippsland Basin Joint Venture and Kipper Unit Joint Venture, with 23 offshore installations and associated onshore plants in Victoria. The Longford gas conditioning plant and Kipper field production started up in the first quarter of 2017. The new plant processes higher CO2-content natural gas from the Kipper, Tuna, and Turrum fields. In May 2017, we acquired 100 percent working interest and operatorship in the VIC/P70 exploration license and plan to begin exploration drilling in 2018.
All three LNG trains and domestic natural gas sales of the co-venturer-operated project are now running, with our focus transitioning from construction to steady-state operations. Current emphasis is on preparing for the next investment phases of the project, including additional drilling, compression, and satellite field development to maintain plateau production rates.