OIl Search says the ExxonMobil-operated PNG LNG project, in which it holds a stake, has agreed a deal to supply liquefied natural gas to a unit of British oil giant BP.
The agreement, starting this month, will provide BP with about 450,000 tonnes of LNG annually over an initial three-year period, rising to about 900,000 tonnes for the following two years, Oil Search said in a statement on Friday.
It did not give any value for the deal.
"(The move) takes the total contracted volumes from the project to approximately 7.5 million tonnes per annum," Oil Search Managing Director Peter Botten said.
The agreement comes a month after Oil Search announced a similar deal with PetroChina for 6.6 million tonnes per annum.
The company also said that, on behalf of the project, ExxonMobil was in negotiations with several other parties over an additional 450,000 tonnes per year of supply.
Oil Search holds a 29 per cent stake in the ExxonMobil-operated PNG LNG project and the adjacent P'nyang field in Papua New Guinea.
Earlier this month, Oil Search resumed operations to produce oil at the Agogo production facility, which was knocked out by a major earthquake in Papua New Guinea in February.
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