OPERATIONS

Horizon Oil dumps entire PNG asset portfolio

SYDNEY headquartered oil and gas producer Horizon Oil has put its Papua New Guinea portfolio in the too-hard basket and walked away from the country altogether, selling its stake in four major production licenses and surrounding assets to its joint venture partner.

paul hunt

Horizon Oil dumps entire PNG asset portfolio

Horizon Oil told shareholders on Tuesday it would sell its wholly owned subsidiary which owns the titles to four production licenses to Arran Energy Investments, a fellow Australian company, for US$3.5...

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