News listings

energy-pedia farmouts/divestments

Papua New Guinea flagPapua New Guinea

Central & SE Asia / Australasia >>> Papua New Guinea

PNG: Santos confirms funding conditions met to complete sale of 2.6 per cent of PNG LNG to Kumul


02 Jan 2024

Photo - see caption

Santos has confirmed that further to the announcement on 31 August 2023 for the sale of 2.6 per cent of PNG LNG to Kumul Petroleum Holdings, funding for the transaction has been secured by Kumul.

Kumul has paid approx. US$250 million into escrow with Santos as part payment of the purchase price. Additionally, Kumul has executed binding funding arrangements for the remainder of the consideration, which will be available for drawdown by 31 January 2024.

Approval by the PNG independent Consumer and Competition Commission (ICCC) for the transaction has been received, satisfying the only condition precedent to the transaction.

The commercial terms of the transaction remain unchanged.

Original announcement link

Source: Santos





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 227

Completed Deals

Completed Upstream Deals: 6595

Company Profiles

Current Company Profiles: 2918

Corporate Activity

Current Corporate Activity articles: 4163

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1666

Geostudies

Current Geostudies articles: 985

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Syntillica
Rose & Assocs
Borchwix
Bayphase
Government of South Australia
OPC
Telos NRG
energy365
Merlin
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com