January 31, 2020 / 10:40 AM / 25 days ago

CORRECTED-PNG says fails to agree with Exxon Mobil on P'nyang gas project

(Drops third paragraph to remove mention of a delay to the P'nyang agreement)

Jan 31 (Reuters) - Papua New Guinea has been unable to reach a mutually beneficial deal with Exxon Mobil regarding the P'nyang gas project, despite offering significant concessions, the prime minister said on Friday.

PNG's new government is pushing to extract more benefits from the P’nyang project as part of a wider effort to reap more rewards from mineral and petroleum resources to lift the country out of poverty.

Reporting by Nikhil Subba in Bengaluru; editing by Jason Neely

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