Santos snaps up PNG licence

SANTOS subsidiary Barracuda is taking a 50% interest in PNG petroleum prospecting licence 269 from New Guinea Energy's Kirkland for an initial payment of $US32 million ($A41 million).

Santos snaps up PNG licence Santos snaps up PNG licence Santos snaps up PNG licence Santos snaps up PNG licence Santos snaps up PNG licence

The final condition precedent for the sale has been met, allowing the transaction to take place, with the PNG Minister for Petroleum and Energy also approving the transfer of the interest.

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