One-Page Deal Sheet
InterOil, Oil Search to Join Forces for Elk-Antelope Field Development
Oil Search Limited Interoil Corporation
Announced Date
February 27,2014
Close Date
March 13,2014
Transaction Type
JV
Enterprise Value (EV)($MM)
900
Asset/Basin:
{"Papuan Basin"}
Transaction Details: Subscribe to see
InterOil Corporation has welcomed Oil Search Limited as a partner in the Elk-Antelope fields – the largest undeveloped gas resource in Papua New Guinea.
Oil Search has agreed to acquire a 22.835% interest in PRL15 from Pacific LNG Group Companies for a consideration of US$900 million plus further contingent payments.
The new arrangement creates a stable and sustainable partnership to connect the significant PRL 15 gas deposit to the growing demand in Asia. InterOil owns 75.6114% of PRL15 and is in an agreement to sell an interest to Total S.A. The final ownership structure will be agreed…
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