InterOil Corporation ('IOC', 'InterOil' or the 'Company') reiterated its ongoing bid process to select an internationally recognized LNG operator to join the InterOil Gulf LNG project is on schedule. The bid process is being led by investment banks Morgan Stanley & Co. LLC, Macquarie Capital (USA) Inc. and UBS AG. The Company is pleased with the process being conducted by the investment banks and the number of bidders involved in the process, the Company press release said.
Selection of the preferred LNG operator is targeted for the second quarter of 2012. The Project Agreement stipulates that FID be reached by June 2013 for the 7.6 million tonnes per annum Gulf LNG Project. The FEED packages for the Project facilities are mostly completed.
“We understand the Government's desire to have an internationally recognized LNG operator join the project and we trust that our LNG bid process will fully satisfy that requirement,” said Phil Mulacek, InterOil’s CEO. “We welcome the continued support of both the Prime Minister and the Minister for Petroleum who endorse an LNG project in the Gulf which complies with the LNG Project Agreement.”
About InterOil
InterOil Corporation is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region. InterOil’s assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. In addition, InterOil is a shareholder in a joint venture established to construct liquefaction facilities in Papua New Guinea.
InterOil’s common shares trade on the NYSE in US dollars.
Selection of the preferred LNG operator is targeted for the second quarter of 2012. The Project Agreement stipulates that FID be reached by June 2013 for the 7.6 million tonnes per annum Gulf LNG Project. The FEED packages for the Project facilities are mostly completed.
“We understand the Government's desire to have an internationally recognized LNG operator join the project and we trust that our LNG bid process will fully satisfy that requirement,” said Phil Mulacek, InterOil’s CEO. “We welcome the continued support of both the Prime Minister and the Minister for Petroleum who endorse an LNG project in the Gulf which complies with the LNG Project Agreement.”
About InterOil
InterOil Corporation is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region. InterOil’s assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. In addition, InterOil is a shareholder in a joint venture established to construct liquefaction facilities in Papua New Guinea.
InterOil’s common shares trade on the NYSE in US dollars.