Kumul completes acquisition of additional PNG LNG stake from Santos with Chevron's offtake agreement
Acquiring Company
Kumul Petroleum
Acquired Company
Santos
Port Moresby
AdelaideEnergyOil And GasConstructionEnergyOil And GasDescription
Kumul Petroleum Holdings Ltd. has successfully acquired an additional 2.6 percent interest in the PNG LNG project from Santos Ltd. The acquisition was funded in part through an offtake agreement with Chevron Corp. This strategic move enhances Kumul's position in the project and prepares the company for its mandated equity in the forthcoming Papua LNG Project.
Quick answer
Kumul Petroleum is acquiring Santos, announced November 5, 2024. Kumul Petroleum is based in Port Moresby, National Capital District, Papua New Guinea.
- How much did Kumul Petroleum pay for Santos?
- The deal value was not disclosed.
- What does Kumul Petroleum do?
- Kumul Petroleum is Papua New Guinea’s national oil and gas company.
- Where are Kumul Petroleum and Santos based?
- Kumul Petroleum is based in Port Moresby, National Capital District, Papua New Guinea. Santos is based in Adelaide, South Australia, Australia.
- Who are the decision-makers at Kumul Petroleum?
- Fundz holds 1 contact at Kumul Petroleum. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Santos?
Santos was acquired by Kumul Petroleum, based in Port Moresby. The deal was reported on November 5, 2024. Kumul Petroleum is Papua New Guinea’s national oil and gas company. We protect and maximise the value of PNG’s petroleum assets so that it can contribute to the maximum wealth for the people of Papua New Guinea. Kumul Petroleum is privately held and operates in Energy.
When did Kumul Petroleum acquire Santos?
Kumul Petroleum's acquisition of Santos was reported on November 5, 2024. Kumul Petroleum Holdings Ltd. has successfully acquired an additional 2.6 percent interest in the PNG LNG project from Santos Ltd. The acquisition was funded in part through an offtake agreement with Chevron Corp. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Santos do?
Santos Ltd. is an Australian exploration and production company with interests in natural gas, oil, and other energy resources. It has been involved in the PNG LNG project and has confirmed the sale of an additional interest to Kumul Petroleum Holdings Ltd. It is privately held, operating in Energy, and is based in Adelaide.
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