ExxonMobil to Take Over Operatorship of Papua LNG Project
TotalEnergies will farm down its stake and transfer operatorship of the Papua LNG venture to ExxonMobil as partners target a final investment decision.
ExxonMobil is set to assume operatorship of the Papua LNG project from French energy major TotalEnergies following an agreement between the partners.
Under the terms of the transfer, TotalEnergies will also execute a farm-down of its majority holding in the upstream development.
TotalEnergies stated that the operational handover and equity adjustment are intended to advance the venture closer to reaching a final investment decision.
The strategic realignment positions ExxonMobil at the operational helm of the Pacific-based export venture as the project consortium works toward key commercial and development milestones.
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