Overseas companies bids to partner with InterOil

Major companies in the United States have sent in their bids to partner with InterOil Corporation to develop the Elk/Antelope project.

InterOil Advisors are currently evaluating the submissions.

The company’s Board of Directors will meet with the Advisors this month to consider the final bid.

The InterOil/Elk Antelope LNG Project is situated in the Gulf Province. It is the second Liquefied Natural Gas Project. The other one is Esso Highland’s LNG project in Hela Province.

More recently, the InterOil Advisors are reviewing submissions from major companies in the US. These partners are interested to develop the Gulf LNG Project utilizing gas from Elk and Antelope fields in Papua New Guinea.

InterOil Corporation has vested interested in developing the energy business in PNG and the Region. The company is a shareholder in a joint venture established to develop the Gulf LNG project.

A meeting is scheduled this month, for the InterOil Board of Directors to They will meet in the next two weeks to evaluate the bids, followed by the announcement of the qualified bidder.

Bridgette Komatep, National EMTV News