PAPUA NEW GUINEA LNG OUTLOOK BRIGHTER

Prospects for a liquefied natural gas export project in Papua New Guinea are brightening. A group led by Mobil Oil Corp. last week tested 43 MMcfd of dry gas in an appraisal well delineating Pandora field in the Gulf of Papua. That follows a hefty flow rate from a shallower zone in the same well the previous week. Mobil and partners are seeking to prove enough gas reserves in the Gulf of Papua to support a proposed LNG export project that would incorporate onshore Papua New Guinea discoveries

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