Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break

HORIZON Oil  has impaired its Papua New Guinea assets by US$67.3 million as a result of the investigations surrounding corruption allegations first aired by the Australian Financial Review early this month and general issues after the halt to the PNG LNG talks. 

Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break Horizon impairs PNG assets by US$67M after corruption allegations, PNG LNG break

The Ketu field in PNG

In an earnings call this morning Horizon suggested the impairment was based on the government's ambition to claim larger takes on future resources projects as well as an overall difficult working
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