Exxon’s US$15 Billion Papua New Guinea Gas Project Half Finished

Oct. 25, 2011 11:09PM PST

Fox Business reported that the ExxonMobil Corp.’s (NYSE:XOM) PNG LNG gas-export venture in Papua New uinea is almost 50% completed and continues to be within its US$15 billion budget.

As quoted in the market news:

Exxon operates and owns 33.2% of the development, Oil Search owns 29.0% and Australia’s Santos Ltd. (STO.AU) owns 13.5% with the rest split between Nippon Oil, a unit of JX Holdings Inc. (5020.TO), and PNG government and landowner interests.

Click here to read the full Fox Business report