InterOil

He said the deal will deliver tangible benefits for Papua New Guinea.

O’Neill also highlighted the benefit of the execution of a MoU between Oil Search and Total for a back-to-back sale of Oil Search’s interest acquired to Total following the completion of the InterOil acquisition.

“This acquisition will provide cost savings and efficiencies for our nation’s greatest growth opportunities, which will directly benefit the people of Papua New Guinea,” he said.

Managing Director Peter Botten in a statement said announcement of the acquisition will place the company in an even better position to advance the Company’s PNG growth opportunities.

He said Oil Search has also today executed a Memorandum of Understanding (MoU) with Total, for a back-to-back farmout of some of the InterOil interest acquired, strengthening the Company’s existing partnership with Total and ensuring the Company’s efforts on the Papua LNG Project remain aligned.

The extended well test will flow Antelope-5 at around 50 million standard cubic feet per day for approximately two weeks before being shut-in to record the subsequent pressure build-up.

In a statement, InterOil said the pressure gauges have been placed in Antelope-1 as an observer well.

The test is expected to take approximately one month to complete.

Name and Shame – Public

http://www.looppng.com/content/name-and-shame-%E2%80%93-public

The public is calling for the arrest of a member of parliament who allegedly tried to bribe a judge at a well-known café in Port Moresby.

Criminals should be locked away – Gulf MP

http://www.looppng.com/content/criminals-should-be-locked-away-%E2%80%93-gulf-mp

43 year old Joel Solien was sentenced to two years behind bars or until he repays the full amount stolen.

Between July 1 and 31 2013, Solien was employed as a driver with East West Transport limited, a company contracted to transport fuel to the InterOil fuel service station.

It was between that time (he admitted in court yesterday Nov 4) that he sold fuel worth K24,640 to a Pakistan man in Port Moresby for K7,000.

He had worked with East-West Transport for seven month before committing the offence.