Ref. DEA 23 Aug â18 (Santos farmin option), Santos and PRL 3 partners have signed an LoI pursuant to which Santos will acquire a 14.32% stake in the licence (Pânyang gasfield) for USD 187 MM - subject to the award of a production development licence to replace PRL 3. The LoI will help towards alignment between the PNG LNG project and the PRL 3 JV, ahead of FEED entry for the planned 3-train expansion at the plant site. Two of the proposed trains will be fed by gas from the Elk-Antelope fields and the 3rd from the PNG LNG project and the Pânyang field. Partnership will become (source: Oil Search):
Santos and PRL 3 partners (ExxonMobil 36,86%, Oil Search 36,86%, Merlin Petroleum 11,96%) have signed an LoI pursuant to which Santos will acquire a 14.32% stake in the PRL 3 licence (Pânyang gasfield) for USD 187 MM. 