Oil Search pleased PNG gas mine trains resume

Company News

by Rachael Jones

ExxonMobil has announced that production of liquefied natural gas has safely resumed in Papua New Guinea following a temporary shutdown of operations after a severe earthquake.

The quake hit on February 26 this year.

One train is currently operating at the LNG plant near Port Moresby. The plant’s second train is expected to restart as production is increased over time.

During the period that production was shut-in, ExxonMobil was able to complete unrelated maintenance scheduled for later in the year to allow for more efficient operations in the months ahead.

Oil Search (ASX:OSH), based in Port Moresby, has a 29 per cent stake in the Exxon-led PNG LNG liquefied natural gas project. Santos (ASX:STO) holds 13. 5 per cent in the project

Shares in Oil Search (ASX:OSH) are up 0.26 per cent to $7.61
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.