InterOil Corporation said that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search, 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 is a party to the Petroleum Retention Licence 15 (PRL 15) Joint Venture Operating Agreement. The panel delivered its award on February 10, 2015.
The Elk-Antelope field is one of the largest gas discoveries in the Asia-Pacific in the past 20 years.
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Image: InterOil