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June 27, 2022
News

Botten: Oil Search Still Part Of Elk and Anteleope Gas Project

Oil Search has not been left out of the Elk and Antelope gas project as speculated.

Managing Director for Oil Search, Peter Botten, says they are still part of the project, and are happy about their 23 percent interest.

Oil Search is still a major party in the PRL 15 Elk and Antelope gas project.

Speculations that it has been left out of the deal between Inter Oil and Total are not true.

Managing Director of Oil Search, Peter Botten, clarified this in a news conference today.

Oil Search has purchased 23 per cent of the shares in the gas project, equivalent to K2 billion.

That is a significant investment, and Oil Search is keen on ensuring the project is delivered.

Mr. Botten says, the notice of dispute issued to Inter Oil was to ensure that the joint operating agreement that governs their operations is complied with.

He also clarified Oil Search position on the government’s acquisition of 10 per cent stake in Oil Search Shares.

99 per cent of Oil Search business is in Papua New Guinea and the company is confident the Elk and Antelope project will boost the growth of the company to benefit the people and the country.

https://youtube.com/watch?v=7cANUhqeRow%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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