Kumul Petroleum acquires additional PNG LNG Project equity

Today Kumul Petroleum Holdings announced that it had finalised agreement with Santos to purchase a 2.6% equity interest in the PNG LNG Project for US$576 million, plus US$160 million share of project debt. Kumul Petroleum’s managing director, Mr Wapu Sonk said, “This transaction is the culmination of many months of discussions that have taken place…

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