ExxonMobil and Oil Search have boosted their acreageposition near the fields that make up the Papua New Guinea LNG project bybuying an exploration block for $15 million.
The seller of Block PPL 277, New Guinea Energy, said therewas a potential $20 million additional entitlement if commercial productionfollows.
The licence lies immediately north of the Kutubu, Moran andGobe/SE Gobe fields that will be used as feedstock for PNG LNG.
