Announced
Financials
Sources
Tags
Infrastructure
Papua New Guinea
Private
Minority
natural gas development
Pending
Integrated Oil and Gas
Friendly
Single Bidder
Domestic
Acquisition
Synopsis
Kumul Petroleum, Papua New Guinea’s national oil and gas company, offered to acquire an additional 5% stake in PNG LNG project from Santos, an Australian oil and gas exploration and production company, for $1.4bn. The potential sale would increase the equity interest of the State to approximately 22% supporting the PNG government objectives for the people of PNG to have a greater equity interest in the development of their natural resources.
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