InterOil Announces Direct Participation in Elk/Antelope Field by PNG Government Entity, Petromin

InterOil Corporation, announced that it has agreed with Petromin PNG Holdings Limited, a government entity mandated to invest in resource projects on behalf of the Independent State of Papua New Guinea, for Petromin to take a direct interest in the Elk/Antelope field. Petromin will contribute an initial deposit and will fund 20.5% of the costs of developing the field. The agreement remains subject... 

Tag: elk antelope fields papua new guinea, elk antelope field, elk and antelope fields, antelope field png

InterOil Announces $57.5 Million Working Capital Loan Facility With Banks in Papua New Guinea

InterOil Corporation, announced that it has secured a 150 million Kina (US$57.5 million) revolving working capital facility for its wholesale and retail petroleum products distribution business in Papua New Guinea from two of that country’s leading financial institutions, Bank of South Pacific Limited and Westpac Bank PNG Limited. “We are pleased to have established this facility which... 

Sasol to Explore for Hydrocarbons in Papua New Guinea

Sasol Petroleum International (SPI) has obtained a 51% working interest in four hydrocarbon prospecting licenses covering a land area of 37 000 square kilometers, close to established gas fields in the “foreland” area of Papua New Guinea. Seismic surveying is scheduled to commence in October 2008. The exploration work will be carried out by newly formed Sasol Petroleum Papua New Guinea... 

Tag: coal mines in papua new guinea, director of finance atlas energy