29 April 2024
Santos farms into Oil Search-ExxonMobil licence in PNG
Publication date: 17 November 2016
Gas Strategies Group
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Santos has expanded its position in Papua New Guinea by buying a 20% interest in an onshore licence currently owned by Oil Search and ExxonMobil, subject to regulatory approval.
Petroleum Prospecting Licence 402 (PPL 402) is located 40 km outside the active Hides field that feeds the country’s sole LNG plant – PNG LNG – in which Santos holds a 13.5% stake. Santos did not disclose the terms of the farm-in.