Traded as (NYSE: IOC) Area served Papua New Guinea Founded 29 May 1997 | Industry Oil and gas Website www.interoil.com Number of employees 2,000 (2014) | |
Type Public
(Acquisition by ExxonMobil pending) Key people Michael Hession Chief Executive Officer
Don Spector Chief Financial Officer
Jon Ozturgut Chief Commercial Officer CEO Michael Hession (11 Jul 2013–) Headquarters Port Moresby, Papua New Guinea | ||
Interoil sites in papua new guinea
InterOil Corporation is a fossil fuel company with a primary focus on Papua New Guinea. InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province. The company employs more than 2000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil was formed in 1997 and is incorporated in Canada. The company is listed on the New York Stock Exchange and the Port Moresby Stock Exchange. It has a market capitalization of $2.8 billion.
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On February 17, InterOil announced its onshore Antelope-5 appraisal well found a reservoir in Papua New Guinea’s Gulf Province.
On July 21, 2016, ExxonMobil announced its intent to acquire InterOil for $2.5 billion.
It has the following assets:
− Exploration: Oil & Gas Exploration licenses to 3.9 million acres (an area larger than Qatar)
− Development: Elk-Antelope in Petroleum Retention License 15, being developed as PNG’s second major LNG project with supermajor Total and Oil Search