Cost of ExxonMobil's PNG LNG project blows out 20%

摘要

Sydney-The first phase of the ExxonMobil-led Papua New Guinea LNG project is now expected to cost $15 billion to develop, up $2.5 billion or 20% from the previous estimate, joint venture partners Santos and Oil Search said October 19. The new cost forecast, which includes past front-end engineering and design and early works totaling about $1 billion, was advised by ExxonMobil, but remains preliminary and is under review, as contract awards have not yet been made. The revision also comes despite positive cost movements from the improved contracting environment.