First PNG LNG Project Delivery on Track for Second Half of 2014

Port Moresby: Esso Highlands Limited (EHL), operator of the PNG LNG project, said today the

project is more than 90 percent complete and is on schedule for first delivery of liquefied natural

gas (LNG) during the second half of 2014.

“With more than 19,000 people currently working across the project, including more than 7,500

Papua New Guineans, we are making significant progress,” said Decie Autin, PNG LNG project

executive.

“Antonov cargo aircraft operations into Komo airfield were completed on 13 August 2013, and

installation of equipment delivered from Komo to the Hides Gas Conditioning Plant is currently

under way.

“We have started the commissioning phase at the LNG plant in preparation for the first LNG

production in 2014. This includes sending gas from Oil Search’s Kutubu Central Processing

Facility to the LNG plant to provide power and enable testing and commissioning of key facilities

and equipment.

“Drilling at Wellpad B is complete, and the drilling rig is being moved to the next wellpad to

support further drilling activity,” Ms Autin said.

As forecasted last year, the estimated cost of the project remains at US$19 billion (excluding

Port Moresby administration facilities and shipping), reflecting disciplined project management

in a unique and challenging working environment.

“ExxonMobil successfully develops projects around the world under a broad range of technical,

operational and financial conditions,” Ms Autin said. “The project has been able to maintain its

schedule in PNG under unique and challenging circumstances. Our focus on disciplined project

execution has allowed us to meet our scheduling commitments without further cost increases.”

EHL continues to assess and advance new expansion and development opportunities in PNG