InterOil offloads PNG downstream assets to Puma

InterOil offloads PNG downstream assets to Puma

By Maggie Lu Yueyang

Following the sale, InterOil will be able to focus on its more profitable upstream assets including one of Asia's largest undeveloped gas fields, Elk-Antelope in the Gulf Province. "Our upstream and LNG business has become core to the company's growth and, as a result of the success we have had in discovering and monetizing gas, the time is right to focus on this part of our business,” Ozturgut said in a statement.

InterOil Corp, the oil and gas company focused in Papua New Guinea, said it was selling its refinery and distribution businesses to Singapore-based Puma Energy Group for $US525. 6 million, to focus on upstream and LNG business.

Read more here: Business Spectator

    

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