Exxon Bid Reaffirms Positive LNG Outlook

摘要

OilSearch's USD2.2bn bid to take over InterOil in May 2016 ignited a spark of interest in the latter's assets in Papua New Guinea (PNG), culminating in supermajor ExxonMobil tabling a superior USD2.5bn, USD45-a-share proposal. OilSearch's bid was part of a structured deal that would have entailed the firm to on-sell gas assets previously held by InterOil to French major Total for USD1.2bn, including additional stakes in the Elk-Antelope field - gas fields that have been nominated to supply gas to the country's second LNG project.