The Exxon Mobil-operated operated Papua New Guinea liquefied natural gas (PNG LNG) project has taken on another $US1.5 billion ($A1.60 billion) of debt to cover last November's cost blow-out.
The $US19 billion project will be PNG's largest resources project, potentially doubling its gross domestic product (GDP) with capacity of 6.9 million tons of LNG a year.
It's to start sales in the second half of next year.
Its major stakeholders include Exxon Mobil (33 per cent) and Australia's Oil Search (29 per cent) and Santos (13.5 per cent).
The new debt takes the total project financing to $US15.5 billion.
The costs blew out from $US15.7 billion to $US19 billion in November, following foreign exchange exposures and operational problems.
The financing was well supported, with the funds sourced from co-venturer and commercial bank lenders, Oil Search said in a statement on Friday.
All funding was now in place to deliver to the project on time and on budget, said Oil Search chief executive Peter Botten.
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