Papua New Guinea has dispatched a team to Singapore to renegotiate its Papua LNG agreement with French oil major Total SA (TOTF.PA), the country’s petroleum minister said on Thursday, reports Trend referring to Reuters.
The state negotiating team, which includes Petroleum Minister Kerenga Kua, left on Thursday for Singapore and will return early next week with a report, a statement by the minister’s officer said.
The Papua LNG project is a joint venture between Total, Exxon Mobil Corp (XOM.N) and Australia’s Oil Search Ltd (OSH.AX).