Oil Search is remaining tight lipped onexactly what the acquisition will be but there is wide spreadspeculation it could be related to InterOil's gas fields in Papua NewGuinea.
Oil Searchrevealed late last year itwas still in discussions over potential involvement in theElk-Antelopegas fields in Block PRL 15 and restated those talks were still ongoing in January.
Ithas previously said it believes the gas resources at theElk-Antelope fields could possibly underpin a new train at theExxonMobil-led PNG liquefied natural gas project or be potentiallydeveloped as a separate LNG project.
InterOilreached
