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The roll-out of the new asset portfolio, comprising three terminals, seven depots and over 40 retail sites, will continue into the fourth quarter of 2004.
“We celebrate and compliment InterOil for the important role that they continue to play in the development of our country and wish them every success going forward,” said minister for petroleum and energy Sir Moi Avei during the opening ceremony.
InterOil’s assets in PNG now comprise an oil refinery, upstream petroleum exploration licenses, and retail and commercial distribution assets. The majority of the refined
products from InterOil’s refinery are secured by off-take contracts with Shell and InterOil Products Limited.
