Following the completion of the P’nyang South-2 well in the western province of Papua New Guinea, ExxonMobil has revised the size of the natural gas resource at the P’nyang field: gas resources estimates rose by 84% since the previous assessment in 2012 to 4.36 tcf (approximately 123 bcm). Therefore, a new development concept will be figured out for the existing LNG plant operated by ExxonMobil, with an expected additional capacity of approximately 8 Mt/year of LNG, and ExxonMobil expects a significant development of LNG operations in the country.
In February 2018, Total and ExxonMobil agreed to double future exports from the Papua New Guinea LNG project to around 16 Mt/year for a total cost of US$13bn. Three new LNG trains could be added and would be supplied with gas from Total's Elk and Antelope fields and from ExxonMobil's P'Nyang field in Papua New Guinea. Papua LNG is a joint venture which includes ExxonMobil (operator) and Oil Search. ExxonMobil farmed in following the acquisition of InterOil Corporation in February 2017. It consists of two trains of 3.45 Mt/year each (total liquefaction capacity of 6.9 Mt/year) commissioned in 2014.
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