Oil Search Completes Pac LNG Acquisition

Oil Search of Papua New Guinea announced the completion of its acquisition of the relevant Pac LNG Group Companies holding a 22.835% gross interest in Petroleum Retention Licence 15 (PRL 15), containing the Elk/Antelope gas discoveries in Papua New Guinea.

The purchase was funded by a placement of 149.39 million fully paid ordinary shares to the Independent State of Papua New Guinea, which was completed yesterday.

Peter Botten, Oil Search’s Managing Director said: “Oil Search’s entry into the PRL 15 joint venture provides us with the opportunity to play a key role in determining the optimal commercialisation route for the Elk/Antelope resource, which is the largest undeveloped gas resource in Papua New Guinea and highly complementary to our existing asset base. We look forward to working with InterOil and other potential partners to realise the full value from the material gas resources contained within PRL 15.”

Press Release, March 13, 2014

Share this article

Follow LNG World News

One thought on “Oil Search Completes Pac LNG Acquisition”

Comments are closed.

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

3rd CWC Japan LNG & Gas Summit

As the only commercially focused forum for the Japanese LNG industry

read more >