4 Apr 2013

Another foreign company enters PNG's LNG sector

7:34 pm on 4 April 2013

The Jersey-based oil and gas company Heritage Oil has entered an agreement with Canada-based LNG Energy to earn a stake in two of its liquefied natural gas licences in Papua New Guinea.

Heritage has announced that under the agreement it will take an 80% interest in the two onshore licences where there are multiple producing fields and discoveries, including the Triceratops and Elk/Antelope discoveries.

The licences are close to current and under-construction infrastructure with the Kutubu oil export pipeline and the PNG Liquefied Natural Gas pipeline.

Heritage notes that the Kikori River also provided a link to the open sea for both licences, further increasing transport options.