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Santos Announces Regarding Expansion of the PNG LNG Plant

16 May 2019  |  09:55:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Santos P'nyang farm-in advances PNG LNG expansion

Santos announced an important milestone towards expansion of the PNG LNG plant by signing a binding letter of intent to acquire a 14.3% interest (pre-government back-in) in Petroleum Retention Licence 3 (PRL 3), which contains the P'nyang natural gas field in PNG. The PRL 3 participants propose to undertake the development of the P'nyang field in coordination with the participants in the PNG LNG Project to leverage the advantages of existing infrastructure. The Company to acquire a 14.3% interest (pre-government back-in) in PRL 3 from the existing PRL 3 participants.

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