PRIME Minister James Marape met with senior executives of ExxonMobil Corporation in Houston, Texas, today to progress discussions on PNG’s next generation of LNG developments.
ExxonMobil’s officials included: Darren W. Woods, Chairman and Chief Executive Officer, ExxonMobil Corporation; Dan L. Ammann, President, Upstream Oil and Gas; Peter Clarke, Senior Vice President, Global LNG; and Dinesh Sivasamboo, Chairman and Managing Director, ExxonMobil PNG Limited
Mr Marape was accompanied by Petroleum Minister Jimmy Maladina, Mining Minister Rainbo Paita, chairman of the State Negotiating Team Dairi Vele, State Solicitor Daniel Rolpagarea and Managing Director of Mineral Resources Development Company Augustine Mano.
The Prime Minister described the meeting as “substantive, productive, and forward-looking”, highlighting ExxonMobil’s “full and unequivocal commitment” to PNG’s resource sector.
“I am pleased to report that ExxonMobil reaffirmed its commitment to the sequencing and development of Papua LNG, P’nyang LNG, and Wildebeest,” Mr Marape said.
“The company confirmed that all three projects remain within their strategic investment portfolio, with sequencing essential to ensure long-term construction momentum, investment flow, and employment generation for our country.”
ExxonMobil also provided an update on the status of Papua LNG, for which TotalEnergies serves as the lead operator. While acknowledging cost pressures on the project, the executives reiterated that all joint venture partners — including ExxonMobil, TotalEnergies, and Kumul Petroleum Holdings Limited — are committed to resolving outstanding issues collaboratively.
A joint meeting involving the PNG Government, TotalEnergies, ExxonMobil and other project stakeholders is being planned to address the recent cost escalations and chart a pathway towards Final Investment Decision (FID) for the project.
On the Wildebeest prospect, a promising new gas field still in its exploration phase, ExxonMobil executives confirmed that deep-well exploratory activities are continuing, and expressed keen interest in partnering with the PNG Government to assess its future development potential.
Mr Marape said: “Our government has expressed its clear preference that these projects be properly sequenced: Papua LNG first, followed by P’nyang LNG, and then Wildebeest,
“This sequencing ensures continuity across the LNG sector with final investment decisions and construction timelines aligned over a 10 to 15-year horizon.
“Papua LNG is expected to reach FID first, and we are hopeful this will be followed by P’nyang and subsequently Wildebeest, creating a decade-long pipeline of economic activity, job creation, and revenue generation for Papua New Guinea.”
During the meeting, Prime Minister Marape was also encouraged to learn that more than six Papua New Guineans
are now employed at ExxonMobil’s global headquarters in Houston — a result, he noted, of early investments in human capital development.
“As Education Minister in 2008–2009, I initiated efforts to train Papua New Guineans to manage and operate LNG projects,” he reflected.
“Today, I am proud to see our nationals not only leading the PNG LNG project, but also serving at ExxonMobil’s global headquarters. It is a powerful reminder of what is possible when we invest in our people.
“I thanked ExxonMobil for its confidence in Papua New Guinean professionals and encouraged the company to continue providing global opportunities for our capable and hardworking citizens.”
PM Marape traveled overnight to Washington DC, where he will meet with senior US government officials and executives of Newmont Corporation, as part of his continued efforts to strengthen bilateral relations and attract responsible investment into PNG’s resources sector.