Total To Spend Up To $3.6B For Papua New Guinea LNG Fields

Law360, New York (December 6, 2013, 1:49 PM EST) -- InterOil Corp. agreed to sell a 61.3 percent stake in two Papua New Guinea LNG fields to France's Total SA, for up to $3.6 billion, the companies said Thursday.

The petroleum retention license at play covers the Elk-Antelope fields in Papua New Guinea's Gulf Province, worth between $1.5 billion and $3.6 billion, depending on how much recoverable gas can be ascertained. InterOil said the formation contained between 5.4 trillion and 9 trillion cubic feet of hydrocarbon gas equivalent.

“Following Total’s entry into exploration in Papua New...
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