'Justin94360' pid='31168' datel Wrote:However, the company would not elaborate, with a spokesman acknowledging that its period of exclusivity had ended.
“But we’re still discussing. We still have negotiations ongoing, and we’ll just have to see how that bears out,” said David Rosenthal, the company’s vice president of investor relations.
The pair agreed on major terms five months ago for ExxonMobil to buy 4.6 trillion cubic feet of gas from InterOil’s Elk-Antelope field in Block PRL 15, to be used as feedstock for an additional train at the ExxonMobil-led PNG LNG project.
However, the end of the exclusive period gave InterOil the chance to open talks with other parties — which it did — and to make new proposals to Exxon-Mobil. As a result, there is no clear indication of an outcome.
Some observers say ExxonMobil remains in control, while others suggest the competing interested parties — understood to be Shell and Total — have edged ahead.
Rosenthal emphasised that ExxonMobil is continuing “to look at the potential for adding a third train. We have space to do that there, lot of opportunities”.
He added: “We also in the area have a pretty good opportunity set in terms of exploration, and we have had some success there recently, and we continue to evaluate that opportunity.
“So that’s still a possibility and, of course, adding a train to an existing site is usually a pretty robust investment opportunity.We’ll continue to pursue that.”
The $19 billion two-train foundation project is more than 90% complete, and is on track for first LNG deliveries in the second half of next year.
PNG LNG is a two-train project with a capacity of 6.9 million tonnes per annum.
Owners are operator Exxon-Mobil on 33.2%, Oil Search on 29%, PNG government company Independent Public Business Corporation on 16.6%, Santos with 13.5%, Nippon Oil on 4.7%, PNG’s Mineral Resources Development Company on 2.8%, and PNG national oil company Petromin holding 0.2%.
"... see how that bears out."
Oh my, where is the Tiger and Lion?
Big Cat pacing back and forth after hunting Elk/Antelope.
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