Santos Sells PNG Field

摘要

Australia's Santos said Wednesday that it has provisionally agreed to sell its stake in Petroleum Retention License No. 5 in Papua New Guinea to P3 Global Energy Co (P3GE), a privately-held Thai firm, for US$20 million. Santos is operator of the permit with 50.353%. Its partner, Horizon Oil, also said last month it would farm out half its 49.64% stake to P3GE. Santos said its interest in the block is "not material or strategic" to its operations and is not part of the Exxon Mobil-operated PNG LNG project, in which it owns 17.7%.