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InterOil Corporation: Arbitration Claims Dismissed - Total Declared a Party to PRL 15 JVOA

Tue February 10, 2015 4:42 AM|PR Newswire | About: IOC





SINGAPORE and PORT MORESBY, Papua New Guinea, Feb. 10, 2015 /PRNewswire/ -- InterOil Corporation (IOC) advises that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search Limited, to pre-emptive rights over a share sale and purchase agreement involving an interest in the Elk-Antelope gas field in Papua New Guinea.
The Tribunal has declared that Total E&P PNG Limited is a party to the Petroleum Retention Licence 15 (PRL 15) Joint Venture Operating Agreement.
The panel delivered its award on February 10, 2015.
InterOil looks forward to the continued development of the Elk Antelope LNG Project with Oil Search and Total SA.
About InterOil
InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licences covering about 16,000sqkm. The company employs more than 2,000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
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