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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.