Oil Search has signed an agreement with the Papua New Guinean Government to develop its remaining liquefied natural gas (LNG) reserves in the country.
Sixty percent of the company's 2 trillion cubic feet of gas reserves are already committed to a multi-billion dollar LNG project run by Exxon Mobil.
Under today's agreement, Oil Search and the PNG Government will work together to commercialise the additional supplies.
The PNG Government is the company's largest shareholder
http://www.abc.net.au/news/stories/2008/07/24/2313511.htm
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