InterOil revealed it would reduced spending to between $155 million and $170 million in 2016 following a restructuring and streamlining of its business.
It said the majority of the spend would be focused on the proposed Paupa liquefied natural gas project, with the company having completed all of its first term commitments in its non-PRL 15 licenses.
InterOil chief financial officer Don Spectoralso told analysts in a conference call on Wednesday the company reduced staffing levels by 60% in 2015 as it carried out restructuring efforts following the transfer of operatorship of PRL 15 to Total.
He
