Horizon Oil

In a statement on Tuesday June 10th, the Company said the investigation by Herbert Smith and Freehills (HSF) and Deloitte, with oversight by an Independent Board Committee, confirmed that no Australian foreign bribery law had been breached.

The investigation was conducted following several articles published by the Australian Financial Review (AFR) in February this year claiming the deal between Horizon and Elevala Energy nine years ago raised concerns of ‘illicit payments’ and ‘bribes.’

The report by the Australian Financial Review (AFR) questioned the role of Commerce and Industry Minister, William Duma, when he was the Petroleum Minister in the Somare Government and private lawyer Simon Ketan.

In a statement issued on Friday, Police Commissioner David Manning, says they are closely following developments following the publication of the Australian Financial Review report over a week ago.

According to Business Advantage PNG, Emmet said while Horizon awaits government and regulatory approval for their mid-sized Western LNG project, the company is considering the proposal by Kumul Petroleum Holdings Limited for the pipeline.

He said this during the Business Advantage PNG Investment Conference in Sydney, Australia, recently.

While a final investment decision is yet to be made on the Western Foreland Gas Fields commercialisation project to meet global LNG demands, Horizon has been approached to consider the Australian East coast market.

CEO Brent Emmet is reported to have told Energy News last month that he has been asked and he would consider the proposal.

While the plan was initially to service eastern Indonesia and the countries along the rim of the South China Sea, Emmett has since expanded the radar to potential LNG distribution points to northern and eastern Australia.