By Alberto Delclaux

Total SA (FP.FR), Exxon Mobil Corp. (XOM) and Oil Search Ltd. (OSH.AU) have signed a memorandum of understanding with Papua New Guinea regarding the terms of a liquefied-natural-gas agreement, the French oil major said Friday.

The agreement is expected to be signed by the end of the first quarter of 2019, Total said. The project includes building two LNG trains--liquefaction units--with a capacity of 2.7 million tons per year each at the Exxon Mobil-operated LNG plant in the country.

The three partners have agreed to launch the first phase of the engineering studies, Total said.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

November 16, 2018 03:10 ET (08:10 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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