PNG Petroleum Development Licences (PDL)
PNG Petroleum Retention Licences (PRL)
(1) Pending Ministerial grant.(2) In October 2012, Oil Search entered into a farm-out agreement with Total, under which Total may acquire a 50% interest in this licence.(3) In March 2014, Oil Search acquired five corporate entities which hold an aggregate interest in PRL15 of 22.84%.(4) 40% paying interest. In April 2015, Oil Search entered into an agreement to sell all of the shares in Oil Search (ROY) Limited, which holds the interest in Block 7 to a wholly owned subsidiary of Petsec Energy Limited. Completion of the sale is subject to a number of conditions including Government approvals.(5) 75% paying interest (6) The Tunisian Government has back-in rights of up to 50% of the licence on payment of past costs.