PNG looks to raise billions

摘要

The National Petroleum Company (NPCP) of Papua New Guinea (PNG) is looking to raise billions of dollars to help fund new oil and gas projects, according to reports. PNG is trying to combat a sharp fall in forecast revenue resulting from a drop in oil and other commodity prices. NPCP holds a 16.6% stake in the PNG LNG project, which operator ExxonMobil wants to expand, and has rights to take up to a 20% stake in the Elk-Antelope fields, which is PNG’s largest undeveloped gas resource.