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January 29, 2014
08:22 EDTTOT, IOCInterOil scales up operations in Papua New Guinea
InterOil (IOC) is relocating core functions from its 100-person office in Cairns, Australia, to support expanding operations in Papua New Guinea. The Cairns office will close by the end of the year. The decision to increase capacity in PNG comes as InterOil is finalizing an agreement with Total (TOT) to develop a multi-billion dollar LNG project in PNG. Work continues on completing the Total agreement by the end of Q1 2014. InterOil has also begun a new round of drilling as part of its exploration activities across almost 4M acres in PNG. The company plans to drill up to eight wells in the next 12-15 months. The commencement of drilling operations will employ an additional 300 people.
News For IOC;TOT From The Last 14 Days
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June 30, 2015
11:38 EDTTOTAmyris agrees to restructure fuels joint venture with Total
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June 26, 2015
06:22 EDTTOTTotal in talks to sell U.K. gas pipeline to ArcLight, Bloomberg reports
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June 24, 2015
07:19 EDTTOTU.K. panel to decide on first fracking in area since 2011, WSJ reports
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June 22, 2015
07:34 EDTTOTTullow says it settled capital gains tax dispute with Uganda government
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June 19, 2015
05:43 EDTTOTTotal sells interest in Schwedt Refinery to Rosneft
Total has signed an agreement to sell its 16.67% interest in the Schwedt refinery in northeastern Germany to Rosneft, which already holds indirectly an 18.75% stake in the facility. The transaction is valued at $300M excluding working capital and remains subject to customary approvals.

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