IF Gov't is nuetral, Botten cannot steer PRL15 gas to PNG LNG whilst ennerOle own's 75.6% to OSH's 22.8%. Yet, there is continued talk of doing that. Maybe the Gov't isn't nuetral or just maybe...........
**********
Oil Search busy in PNG
By Russell Searancke
21 March 2014 00:00 GMT
Oil Search has completed its US$900 million acquisition of Pacific LNG Group’s equity interest in the Elk-Antelope gas complex in Papua New Guinea.
Oil Search now holds a 22.8% interest in Block PRL 15, which contains the two onshore fields.
Oil Search estimates that gross Elk-Antelope proven and probable contingent resources are 5.3 trillion cubic feet of raw gas, including 75 million barrels of associated liquids.
Peter Botten, Oil Search’s managing director, said: “Oil Search’s entry into the PRL 15 joint venture provides us with the opportunity to play a key role in determining the optimal commercialisation route for the Elk-Antelope resource, which is the largest undeveloped gas resource in Papua New Guinea and complementary to our existing asset base.”
The other interest holders in PRL 15 are InterOil on 75.6% and indirect participation interests 1.5%, while Total has a provisional farm-in agreement with InterOil.