InterOil Secures $400 Million to Advance Its Papua New Guinea Assets
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InterOil Corporation has secured US$400 million to advance its Papua New Guinea assets.
“We are taking proactive steps to increase our financial flexibility. The new, increased and extended credit facility underscores the lenders’ confidence in our Papua New Guinea assets and in Papua LNG, one of the world’s lowest cost green-field LNG projects,” said Donald Spector, chief financial officer of InterOil.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
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