- Total (TOT) has agreed to acquire a 61.3% holding in InterOil's (IOC) Papua New Guinea natural-gas fields for as much as $3.6B as part of a plan to develop the reserves.
- Total will pay $613M up front, with the extra money dependent on the size of the resource and a final investment decision on building an LNG export facility.
- Should the Papua New Guinean government and landowners exercise rights to acquire a 22.5% interest in the project, Total will end up with a 47% holding and InterOil 30%. (PR)
Total in deal worth up to $3.6B for InterOil LNG interests
From other sites
at CNBC.com (Jun 3, 2015)
at CNBC.com (Jan 15, 2015)
at CNBC.com (Jan 13, 2015)
at CNBC.com (Jan 7, 2015)
at CNBC.com (Jan 6, 2015)
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