Oil Search managing director Peter Botten, has expressed that he was happy with this move.
"We are pleased that the rights to hold a 40.1% interest in PRL 15 have now been successfully transferred from InterOil to Total SA.
"The election of Total SA, a world leader in the global LNG industry, as operator of PRL 15 will help facilitate the completion of appraisal and the timely development of the world class Elk/Antelope fields," Botten said.
Total E&P PNG Limited has been appointed operator of the PRL 15 joint venture after an unanimous vote by all participants in PRL 15.
Oil Search announced this following the transfer of rights in the PRL 15 Joint Venture Agreement and lincense from InterOil to Total SA. The company says the appointment will take effect in accordance with an operator transition plan and the terms of the joint venture operating agreement and is subject to all necessary PNG government approvals.