PNG’s sole oil refiner InterOil is focusing on its Elk and Antelope gas discoveries by selling off large stakes in separate petroleum retention licences in Western Province to a subsidiary of Australian-listed Horizon Oil.
The deal includes 43.13% interest in PRL 4, which contains the Stanley gas and condensate discovery, and 28.576% of PRL 5, which contains the Elevala and Ketu gas and condensate discoveries.
Royal commission findings cite firms, individuals over A$1.3B Oil Search loan
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InterOil shareholders accept Exxon offer
Horizon ditches assets in 'too-hard' PNG
Kumul gets three gasfield PRLs
