Guinness World Records
Guinness World Records certified the Antelope-1 well’s 2009 gas flow. In December 2009, Phil presented the certificate to the Governor of Gulf Province, Havila Kavo.
Papua New Guinea’s first oil refinery
Phil founded InterOil to give Papua New Guinea its own refinery. The Napa Napa refinery near Port Moresby took its first crude cargo in June 2004, ending the country’s reliance on imported fuel. By 2013 it had processed more than 56 million barrels, worth over USD 4.9 billion, without a single lost-time injury.
A landmark US Government loan
In 2002, the US Government’s Overseas Private Investment Corporation (OPIC) provided USD 85 million to finance the refinery. It was OPIC’s first project loan in Papua New Guinea.
1.6 billion barrels discovered
InterOil’s discoveries at Elk, Antelope and Triceratops were estimated at 1.6 billion barrels of oil equivalent. The certified size of Elk-Antelope grew every year from 2009 to 2012, reaching almost 10 trillion cubic feet equivalent.
A national energy company
After buying the Papua New Guinea businesses of BP (2004) and Shell (2006), InterOil became the country’s largest fuel distributor, supplying about 65% of the market through service stations, terminals, depots and aviation refuelling sites.
Growth
Under Phil’s leadership, InterOil grew a company worth about USD 1 million to worth over USD 5.4 billion. Its share price rose from about USD 0.50 to over USD 114. In 2009, the Wall Street Journal listed InterOil among the year’s biggest stock market gainers, up about 459%.
Backed by global investors
InterOil raised capital from leading investors and banks, including Fidelity, Morgan Stanley, Macquarie and BNP Paribas, and was listed on stock exchanges in Port Moresby, Australia, Canada and New York.
Confirmed by the industry’s biggest names
In 2013, Total bought a majority stake in Elk-Antelope, calling the fields “two of the biggest finds in the Asia-Pacific region in recent years.” In 2017, ExxonMobil acquired InterOil in a buyout transaction.
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