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Summary

Santos advises that Esso Highlands Limited, a subsidiary of Exxon Mobil Corporation and operator of the PNG LNG project, has confirmed that the project is more than 90% complete and on track for first LNG delivery in the second half of 2014.

Santos advises that Esso Highlands Limited, a subsidiary of Exxon Mobil Corporation and operator of the PNG LNG project, has confirmed that the project is more than 90% complete and on track for first LNG delivery in the second half of 2014.

The operator has also confirmed that the estimated gross capital cost of the project is unchanged at US$19 billion.

Good progress has been achieved across all aspects of the project, including:

  • Antonov cargo aircraft operations into Komo airfield were completed on 13 August 2013;
  • Commencement of the commissioning phase at the LNG plant, with gas sent from the Kutubu Central Processing Facility to the LNG plant to provide power and enable testing and commissioning of key facilities and equipment; and
  • Drilling completed at wellpad B and the rig is being moved to wellpad D.

Santos Chief Executive Officer David Knox said that the significant progress made at PNG LNG was pleasing and all co-venturers were looking forward to the first LNG cargo next year.

“Santos continues to make strong progress on our two major growth projects PNG LNG and GLNG, both of which remain on schedule and whose capital cost estimates remain unchanged,” Mr Knox said.

Santos has a 13.5% interest in PNG LNG. The PNG LNG Project operator’s press release is included in the PDF below.