ExxonMobil and its joint venture partners in a $15bn liquefied natural gas project in Papua New Guinea have secured $14bn in project financing, with construction to start early next year. Oil Search – which has 29% of what will be the largest-ever foreign investment in PNG – said it was able to borrow $8.3bn from export credit agencies, tap a syndicate of 17 commercial banks for $1.95bn and secure $3.75bn from ExxonMobil.

This entry was posted by Gwen Robinson on Wednesday, December 16th, 2009 at 5:08 and is featured in The 6am Cut London (16 Dec 2009) . Tagged with ExxonMobil, oil search, png. Edit this entry.