Monday 23 August 2021

Oil Search confirmed that the Papua New Guinea Government and Esso PNG P’nyang Limited, as operator of PRL 3 (P’nyang field), jointly announced their intention to re-engage in the negotiations on the P’nyang project.

PNG Minister for Petroleum, the Hon. Kerenga Kua, said “A series of workshops regarding the development of the P’nyang Gas fields will take place over the next couple of weeks and if all goes well, we can expect to sign a P'nyang Heads of Agreement around the end of this next month and a Gas Agreement thereafter."

Diego Fettweis, Oil Search’s EVP Commercial, said “This is a positive step towards the development of the P’nyang gas resource and signals the strength of support between the PRL3 joint venture and the Government of Papua New Guinea for a mutually beneficial outcome. We look forward to further progress in these negotiations and will support the PRL3 Operator through our 38.51% interest in the joint venture.”