Wellheads landowners

Landowners offer K725 million to acquire direct interest in PNG LNG Project

Petroleum Development License (PDL) wellhead and facilities landowners include Greenfield PDL 1, 7, 8 and 9 and Brownfield PDL 2 and 4.

The landowners, whose customary and traditional lands hold and contribute in excess of 95% of the total gas volumes of 10.5 trillion cubic feet (tcf) have formally offered to a purchase price of K725Million ($US 230million) to acquire direct equity ownership and interest of 4.27% from the National Governments 16.58% in the PNG LNG Project.