ICC Arbitration Panel Declares Total a Party to PRL 15 JVOA in PNG
InterOil Corporation, an independent oil and gas firm focused on Papua New Guinea (PNG), announced Tuesday 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 PNG.
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 Feb. 10.
InterOil looks forward to the continued development of the Elk Antelope LNG Project with Oil Search and Total SA.
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