Exploration & Production

Repsol sells upstream PNG assets to Chinese company

Spain’s Repsol has agreed to sell its upstream assets in Papua New Guinea to a subsidiary of China Changcheng Natural Gas Power
By Staff reporter 12 June 2018 0 31263

Spain’s Repsol has agreed to sell its upstream assets in Papua New Guinea to a subsidiary of China Changcheng Natural Gas Power, according to Kina Petroleum, which has an interest in one of the assets.

Repsol and Kina, which is listed on the Australian stock exchange, each have a 25% interest in the PRL 38 licence area, which contains the Pandora gas fields.

Repsol also has a 35.1% interest in the Elevala/Ketu fields in PRL 21 and the Stanley fields in nearby PDL 10.

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