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Hunt Oil Company News

30 Aug 2007

Marubeni to Participate in Peru LNG Project

Marubeni Corporation has signed the Sales and Purchase Agreement with SK Energy for the acquisition of 10% interest in the Peru LNG Project. The international project consortium for the project consists of Hunt Oil Company (50%) of the United States, SK Energy (20%) of Korea, Repsol YPF (20%) of Spain and Marubeni Corporation (10%) of Japan. This project, located on the west coast of Peru in the South America, has geographical advantage to supply competitive LNG products not only to the Latin America market and U.S. West Coast market but also to Asian Far East market as possible alternative destination. Natural gas feedstock will be supplied from Camisea gas field and processed at LNG Plant located at Pampa Melchorita area, south of Peruvian capital Lima.

23 Jan 2007

Consortium Launches LNG Project

The Peru LNG project, the largest industrial project ever to be undertaken in the history of Peru, officially launched today by awarding to Chicago Bridge & Iron Company N.V. (CB&I) the engineering, procurement and construction (EPC) contract for a natural gas liquefaction plant valued in excess of $1.5b. The Notice To Proceed authorization represents a commitment by the international project consortium (consisting of Hunt Oil Company of the United States, SK Corporation of Korea and Repsol YPF of Spain) to move forward with their direct investments to develop the Peru LNG gas export project. Hunt Oil Company will serve as operator of the project. Peru LNG is a key component in Peru's overall energy plan.

15 Sep 2006

Bidding for PNG’s Offshore Oil Leases On

The Papua New Guinea Government received confirmation of global interest in bidding for 15 exploration blocks in the Gulf of Papua when 60 executives from more than 30 international oil and gas companies attended their inaugural road show in Singapore. The companies included the big British Gas Group, ChevronTexaco, CNPC of China, Hunt Oil Company, Korea Gas Corporation, Mitsubishi, Nippon, Pearl Energy Ltd, Petronas, Premier Oil, Repsol and Singapore Petroleum. Sir Moi told the audience that the area was selected because of their newly recognised prospectivity and proximity to onshore discoveries as well as finds in the offshore Papuan sedimentary basin.