(Reuters] -The Exxon Mobil Corp. partnership with the Papua New Guinea Government (PNG) has been signed, according to the U.S. Energy giant. The deal will allow for the P’nyang gasfield’s development and end years of uncertainty.

After the existing gas sources are exhausted, Exxon’s liquefied LNG plant in PNG will be fed by gas from P’nyang’s field.

PNG’s P’nyang gasfield is the third LNG project, after Papua LNG and PNG LNG. Together, these three projects “will deliver tax revenue and production for PNG well past 2050,” James Marape, Prime Minister of PNG, said.

Marape’s last year government resumed talks Exxon Mobil (NYSE:) A deal was struck to develop P’nyang’s gas field. This agreement came after late-2019 negotiations ended when the U.S. company refused to accept the terms that the government wanted.

A 63% government take has been achieved by the state negotiating group under the P’nyang Gas Field Deal, compared to 49% for PNG LNG project or 51% for Papua LNG project. The Prime Minister’s Office stated Tuesday.

“This is an enormous win…and also sets a benchmark for future negotiations,” said the Prime Minister’s Office. He added that Exxon’s deal with its partners, Santos Ltd. and JX Nippon, was completed after three years of negotiation.

Exxon indicated that they will cooperate with the PNG government in relation to their desire for additional equity.

Santos Ltd. was one of the partners in the project and stated that signing the gas agreement is a milestone. It sets out the financial framework, project scoping, and evaluates.

Exxon’s Esso PNG P’nyang Ltd manages the P’nyang fields and has a 49% stake with Ampolex(Papua New Guinea). Partners Santos, JX Nippon and a 38.5% share respectively.

Last year, 8.4 million tonnes was produced at the P’nyang facility for LNG export.