Total to be operator of PNG’s PRL 15 JV

InterOil Corp. says that all participants in the Petroleum Retention License (PRL) 15 joint venture have unanimously voted to appoint Total E&P PNG Ltd. as operator of the PRL 15 JV. PRL 15 is located in the Gulf Province of Papua New Guinea (PNG).

The appointment will take effect in accordance with an operator transition plan and the terms of the JV operating agreement.

Total has a 40.1% interest in PRL 15, with InterOil, Oil Search Ltd., and minority shareholders holding 36.5%, 22.8% and 0.5% stakes, respectively.

The appointment is subject to all necessary PNG government approvals.


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 ...