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PRL-10 contains the Uramu gas field which has proved and probable reserves of about 318 billion cubic feet of gas.
PNG's largest oil producer Oil Search has a 49.55% operating stake in PRL-10 while the remaining 10% is held by Liquefied Natural Gas, which bought its stake in May.
Uramu is about 80km from InterOil's proposed gas pipeline from its Elk gas field to Liquid Niugini Gas' proposed liquefied natural gas plant that will be near its Napa Napa refinery.
Liquid Niugini is a joint venture between InterOil, Merrill Lynch and Clarion Finance.
