InterOil has completed drilling of the 90 degree bend in the Antelope-2 horizontal well. The company is currently preparing the well to run casing through the build section, before drilling out and testing the horizontal lateral.

Additionally, the company has initiated front-end engineering and design (FEED) work with its joint venture partner Mitsui & Co for the design and construction of the proposed condensate stripping facility. Civil works investigation and field data gathering in support of FEED are proceeding simultaneously.

InterOil is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region.

The company’s assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. In addition, InterOil is a shareholder in a joint venture established to construct an LNG plant on a site adjacent to the company’s refinery in Port Moresby, Papua New Guinea.