Either outcome was rightly long claimed by covering analysts as a Win/Win for IOC.
Although never mentioned, same was true for OSH whose pre-doomed attempt to pry pre-emptive rights from IOC/TOT transaction. Win/Win for OSH.
What motivated OSH to launch the yr. long doomed battle (doomed, if one assumed IOC/TOT inside and outside council were competent) which surely has caused added expense, delay and drag on pps
The reality may be in the best explanation I heard a year ago when OSH challenged TOT transaction.
...'OSH sold the OSH/PNG USB billion dollar PNG loan OSH stake sale (which funded OSH purchase of PacLNG PRL15 stake and was a WIN for shareholders) to OSH large shareholders by overstating to these large shareholders their chances in winning a pre-emptive rights and control of PRL15 (would be a bigger WIN). Legal challenge to IOC/TOT, however slim the odds, only a follow through commitment to OSH shareholders.'
OSH won't challenge further, they have a WIN.
TOT is full steam ahead and watch for them to now flood personel and operations to PNG.
Some continue to mis-read TOT's legal standing, comittment and financial strength to E/A LNG by finding monsters where there are none.
We whould be anguishing over standalone 2-4 trains and cutting a strond deal for PNG LNG feed. That is now what IOC/TOT/OSH will pursue. Another Win/Win.