Oil Search completes acquisition of Pac LNG’s interest in PRL 15

Offshore staff

SYDNEY, AustraliaOil Search has completed its announced acquisition of the relevant Pac LNG Group holding a 22.835% gross interest in petroleum retention license 15 (PRL 15), containing the Elk/Antelope gas discoveries in Papua New Guinea.

The purchase was funded by a placement of 149.39 million fully paid ordinary shares to the Independent State of Papua New Guinea, which was completed March 12.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...