- Oil Search (OISHF) is contesting Total’s (TOT) agreement earlier this week to acquire a 40% stake in InterOil’s (IOC) natural gas discoveries in Papua New Guinea, a dispute which could require international arbitration to be resolved.
- The dispute surrounds stakes in the Elk and Antelope fields, coveted because the gas could be used either for a possible expansion of a $19B liquefied natural gas project that ExxonMobil (XOM) is building with Oil Search, or for a rival project.
- Analysts say the outcome of the dispute is unclear, but some speculate Oil Search's aim may be to keep the door open to XOM to enter the Elk-Antelope joint venture.
- Meanwhile, IOC has spudded its third well in as many weeks in Papua New Guinea with up to five more planned over the next year or so.
From other sites
at CNBC.com (Jan 14, 2015)
at CNBC.com (Jan 9, 2015)
at CNBC.com (Jan 5, 2015)
at CNBC.com (Jan 2, 2015)
at CNBC.com (Dec 29, 2014)
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