ExxonMobil reached a definitive agreement to acquire InterOil Corporation in July 2016, in a transaction valued at more than $2.5 billion.
The landmark acquisition integrated InterOil’s massive Elk-Antelope gas discoveries into ExxonMobil’s global portfolio, significantly expanding its operational footprint across Papua New Guinea’s natural gas sector.
Commenting on the strategic expansion, ExxonMobil Chairman and CEO Rex W. Tillerson emphasized that the agreement would create long-term value for shareholders and the local economy alike.
“InterOil’s resources will enhance ExxonMobil’s already successful business in Papua New Guinea and bolster the company’s strong position in liquefied natural gas,” Tillerson stated.
About InterOil: InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000 square kilometers. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
View the official press release from ExxonMobil.
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