27 Aug 2013

New offer on table from Royal Dutch Shell for PNG oil

6:52 am on 27 August 2013

Royal Dutch Shell has reportedly submitted a new offer for InterOil's Elk-Antelope discoveries in Papua New Guinea.

InterOil's exclusivity arrangements had lapsed for its ongoing negotiations with ExxonMobil, but Upstream reports that Shell has submitted a new offer, based on what it calls "well-placed sources".

PNGIndustryNews reported last week that InterOil was no longer exclusively talking to Exxon over the onshore discoveries.

Earlier this month InterOil's new chief executive officer Michael Hession revealed that the company's focus would be "non-operated LNG, midstream refining and downstream distribution and upstream exploration."