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aussie
30-07-2003, 08:06 PM
28 July 2003 MOBIL PNG OPERATIONS

Port Moresby - Recent media reports claiming that Mobil has decided to withdraw from PNG are not correct.

Mobil Oil New Guinea today confirmed it had made no decision to withdraw from PNG and was in fact working to strengthen its future competitive position in the country.

The PNG market is a challenging operating environment and Mobil continually reviews its operations with the aim of improving its profitability in this market.

Mobil has been a major petroleum supplier and contributor to the PNG economy for over 80 years. In addition to its downstream business, ExxonMobil also has a substantial upstream business in PNG and is actively working to commercialise PNG's gas resources.

Mobil has no plans to pull out of PNG and continues to supply high quality fuels and lubricants to the PNG market.

Contact:
John Acraman,
Managing Director,
Mobil Oil New Guinea

Telephone : +675 322 2214


An ExxonMobil Subsidiary
Mobil Oil New Guinea Limited