Australian explorer New Guinea Energy announced the deal in July that would see ExxonMobil’s subsidiary Esso PNG Robin take New Guinea’s 50% stake in the Papuan basin block.
One of the conditions of the sale was obtaining approval from the other PPL 269 joint venture partners, Talisman Energy (operator and 30% stakeholder) and Mitsubishi Corp (holding 20%).
However, New Guinea said on Wednesday that Esso had been unable to reach alignment with Talisman and Mitsubishi on a number of confidential commercial matters.
