Papua New Guinea-focused exploration and production firm Oil Search has signed and executed a joint operating agreement with its partners in the Papua New Guinea liquefied natural gas project.

By From news reports Exxon Mobil and Oil Search, Papua New Guinea's biggest oil producer, have scrapped plans to build a $5.5 billion natural gas pipeline to Australia and will work on more profitable ways of exploiting fields in the country.

By Angela Macdonald-Smith Australian Pipeline Trust, a Sydney-based owner of natural gas pipelines, said Wednesday that it received "positive" responses from potential overseas partners to build a pipeline from Papua New Guinea to Australia.