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InterOil wins PNG arbitration
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Total will formally enter PRL 15 (Elk/Antelope) after arbitration ruled in InterOil's favour in a dispute brought by Oil Search. Oil Search argued that it had pre-emption rights preventing Total from buying a 40.1% interest in PNG's largest undeveloped gas resource from InterOil. Had Oil Search won, Elk/Antelope would have contributed a large proportion of feedgas for any PNG LNG expansion past three trains. This could still eventuate, but not until Total evaluates other development options.
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