InterOil acquires BP's Papua New Guinea operations

InterOil Corp., a Canadian company with operations in Papua New Guinea, agreed to acquire BP PLC's subsidiary, BP Papua New Guinea Ltd., for $11.3 million.

March 17, 2004

By OGJ editors
HOUSTON, Mar. 17 -- InterOil Corp., a Canadian company with operations in Papua New Guinea, agreed to acquire BP PLC's subsidiary, BP Papua New Guinea Ltd., for $11.3 million.

The transaction involves all of BP's petroleum distribution assets and operations in Papua New Guinea, including inventory. The asset portfolio comprises 3 terminals, 7 depots, and more than 40 retail sites.