While PNGIndustryNews.net has previously reported that Duma's notice of intention to cancel the project agreement was suspended, InterOil's recent announcement on the matter provided some insights into the ongoing talks to find a suitable LNG operator and project scope.

"Negotiations between the government and InterOil will continue with a view to finalising detailed specifications of the proposed LNG project satisfactory to the state," InterOil said.

"The suspension of the notice will remain in place until the National Executive Council has approved the final concept of the LNG project.

"InterOil is very appreciative of the cooperation and assistance it has received from Minister Duma and his department in reaching this important stage, and looks forward to working with them to bring this project to fruition for the mutual benefit of Papua New Guinea, InterOil, its shareholders and partners."

InterOil's full statement can be downloaded as a pdf document by clicking the relevant document under "related links" to the right of your screen.