InterOil (NYSE:IOC) is an integrated oil and gas company operating a single refinery, a network of fuel stations, and owning potential gas and liquids discoveries in Papua New Guinea (PNG). Their license area has many more promising leads and prospects. But in order to monetize the resources, it needed a partner with capital and experience to develop its main gas field, Elk/Antelope, and build and operate an associated liquid natural gas (LNG) plant.
After a bit of a beauty contest, InterOil has now chosen a partner for developing its main license (PRL 15, petroleum retention license 15, where the massive Elk/Antelope field is situated) and build an LNG factory. The partner is Total (NYSE:TOT) of France,...
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