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Santos sells 5% in PNG LNG to Kumul

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05 October 2022

Santos sells 5% in PNG LNG to Kumul

Report summary

Kumul Petroleum, Papua New Guinea's national oil company, has made a binding conditional offer to Santos to acquire a 5% stake in the PNG LNG project. A consideration of US$1.4 billion, including a US$300 million share of project finance debt, has been agreed. The deal, with an effective of 31 December 2022, will increase Kumul Petroleum's stake in the project to 24.6%, with Santos retaining a 37.5% interest.

Table of contents

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • PNG LNG production outlook
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Santos sells 5% in PNG LNG to Kumul

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