TotalEnergies holds 37.55% in Papua LNG Joint Venture
TotalEnergies SE is a multi-energy company, producing and marketing oil and biofuels, natural gas and green gas, renewables and electricity. In 130 countries, with close to 100,000 employees, the company ensures a presence across the entire value chain of these energies – from production and processing to distribution in various forms – this enables us to invent technological solutions and innovate for our customers.
An integrated business model is our strength and sets us apart. Efficient, profitable and innovative, it is a guarantee of quality for our customers.
ExxonMobil holds 37.04% in Papua LNG Joint Venture
ExxonMobil affiliates has had a continuous presence in Papua New Guinea for over a century. ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs. The construction and subsequent operation of Papua LNG’s new electric liquefaction trains adjacent to existing PNG LNG Project liquefaction facilities will be delegated to ExxonMobil by TotalEnergies.
In addition to being responsible for the construction and operation of the US$19 billion PNG LNG Project (33.2 percent interest), ExxonMobil has interests in fuels marketing, oil production and exploration in PNG. ExxonMobil is the parent company of ExxonMobil PNG Limited (EMPNG), the operator of the PNG LNG Project, which successfully and safely delivered PNG’s first LNG project. PNG LNG, having the capacity to produce more than 8 million tons of LNG annually, commenced operations in 2014 and ships liquefied natural gas to customers in Asia.
Santos holds 22.83% interest in Papua LNG Joint Venture
Santos Limited has been an Australian energy pioneer since 1954 and is one of Australia’s leading gas producers, supplying Australian and Asian customers. Santos has also developed major oil and liquid businesses in Australia with interests and operations in every major Australian petroleum province, as well as in PNG and numerous other countries.
Today it is one of the largest producers of natural gas for the Australian domestic market. The company commenced oil and gas exploration and production in Papua New Guinea in the late 1980s.
JX Nippon holds 2.58% interest in Papua LNG Joint Venture
JX Nippon Oil & Gas Exploration, a 100 percent subsidiary of ENEOS Holdings, Inc., is exploring for, developing and producing oil and gas, with activities in Southeast Asia, the Gulf of Mexico, Middle East and PNG. ENEOS Corporation is Japan’s largest integrated oil company and is a major oil importer and distributor of petroleum products. JX Nippon Oil & Gas Exploration has been involved in the oil exploration and development projects at Kutubu and Moran as well as other oil fields in PNG since the early 1990s. JX Nippon Oil & Gas Exploration has a 4.7 percent interest in the PNG LNG Project.
Kumul Petroleum Holdings Limited (formerly NPCP Holdings Limited) is a company incorporated under the laws of Papua New Guinea with all issued shares beneficially owned by the Independent State of Papua New Guinea through Kumul Consolidated Holdings (KCH) (formerly, Independent Public Business Corporation of PNG).
Kumul Petroleum may exercise a back-in right of up to 20.5 percent participating equity interest in the Papua LNG project, at the time of grant of the Project’s Petroleum Development License.
Mineral Resources Development Company Limited (MRDC) is a 100 percent State-owned company. It was incorporated in 1975 under the Companies Act to hold and manage State and Landowner equity interests in mining and petroleum development projects in PNG.
MRDC may exercise a back-in right of up to 2 percent interest in the Papua LNG project, at the time of grant of the Project’s Petroleum Development License.