• Key milestone approval for the project
• Confirms most comprehensive environmental assessment in PNG history
Port Moresby, Papua New Guinea, Date, October 28, 2009 - Esso Highlands Limited, a subsidiary of Exxon Mobil Corporation and operator of the PNG LNG project, today announced that the Government of Papua New Guinea, Department of Environment and Conservation, has approved the project's Environment Impact Statement 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
"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 late this year.
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 Limited as Operator) 41.5%, Oil Search 34.0%, Santos 17.7%, Nippon Oil 5.4%, Minerals Resources Development Company 1.2% and Eda Oil Limited 0.2%. (Participation will change when
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