Oil Search Acquires Stake in InterOil's PNG Resources

摘要

Papua New Guinea-focused Oil Search, already a major player in the country, has further upped its position there by acquiring a 22.835% interest in the PRL 15 license for $900 million upfront and contingent payments linked to additional resources. The block, operated by rival InterOil, holds the large Elk/ Antelope gas discoveries. But the Australian-listed minnow has acquired the stake from the Pac LNG Group Companies, which were minority partners in the license, and not, as earlier expected, from Total who agreed to acquire a stake in PRL 15 from InterOil in December (IOD Dec.9'13).