King & Wood Mallesons Guides $900M South Pacific Gas Deal

Law360, New York (February 27, 2014, 2:56 PM EST) -- Oil Search Ltd. has purchased a stake in a mammoth untapped natural gas region in Papua New Guinea from Pacific LNG Group Cos. for $900 million, the companies announced Thursday.

In a move that expands its already large energy footprint in the region, Papua New Guinea-based Oil Search purchased a 22.835 percent stake in Petroleum Retention License 15 — which covers the Elk and Antelope fields, the country's largest undeveloped gas resource.

An attorney for Pacific LNG, an emerging markets-focused affiliate of Zurich-based investment firm Clarion...
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