InterOil Corporation and its joint venture partner, Pacific LNG Group, have entered into exclusive negotiations with ExxonMobil Papua New Guinea Ltd., a subsidiary of ExxonMobil, on the development of Petroleum Retention License 15 (PRL 15), which comprises the Elk and Antelope fields in the Gulf Province of Papua New Guinea.
The transaction has been discussed with the Government of PNG and any future agreement will be subject to their final approval, InterOil said in a statement.
Items under consideration include:
[mappress]
LNG World News Staff, May 24, 2013; Image: InterOil