The National Executive Council has approved Interoil’s LNG development project in the Gulf province.
Prime Minister Peter O’Neill announced on Friday that NEC has approved the establishment of a State negotiating team to discuss amendments to the 2009 project between the state and LNG Limited.
Interoil now looks forward to conclude an agreement for a sale of an interest in the Elk and Antelope resource in Petroleum Retention License 15 to partner or partners in major oil companies nationally and internationally.
