Papua New Guinea's national oil company Kumul Petroleum has agreed a deal to add to its interest in the producing SE Gobe oilfield in the country's Highlands region, writes Russell Searancke.
The additional interest comes by way of Kumul's acquisition of Japanese company Southern Highlands Petroleum's 40.1% equity in Block PDL 3.
Southern Highlands Petroleum is owned by JX Nippon Oil & Gas Exploration on 80%, and Japan Petroleum Exploration and Inpex each on 10%.
