ENEOS XPLORA PAPUA LNG LIMITED PROPOSES TO ACQUIRE PARTICIPATING INTEREST IN PAPUA LNG PROJECT FROM ENEOS XPLORA PAPUA LNG PTY LTD

CLEARANCE APPLICATION BY ENEOS XPLORA PAPUA LNG LIMITED FOR THE PROPOSED ACQUISITION OF PARTICIPATING INTEREST IN PAPUA LNG PROJECT FROM ENEOS XPLORA PAPUA LNG PTY LTD

The Independent Consumer and Competition Commission (“ICCC”) wishes to inform the general public and relevant industry stakeholders that it has commenced public consultations on the Clearance Application received from ENEOS Xplora Papua LNG Limited (“ENEOS PNG”) for the proposed internal restructure within the ENEOS Group involving an acquisition of 2.580645 percent (%) participating interest in the Papua LNG Project from ENEOS Xplora Papua LNG Pty Ltd (“ENEOS Australia”) (the “Proposed Acquisition”). 

Both ENEOS PNG and ENEOS Australia are related entities and are subsidiaries of ENEOS Xplora Inc. (“ENEOS Group”), a company incorporated in Japan. ENEOS PNG was recently formed and incorporated in PNG for the purposes of this internal restructuring within the ENEOS Group. ENEOS Australia, on the other hand, is registered in PNG as an overseas company incorporated in Australia. ENEOS Australia’s main business activities in PNG are oil & gas exploration, development, and production in the Papua LNG Project.

According to the Clearance Application, the Proposed Acquisition involves a transfer of ENEOS Australia’s 2.580645% interest in the Papua LNG Project and joint venture, and a corresponding 2.580645% interest as tenant in common in Petroleum Retention License 15 (PRL 15), to ENEOS PNG.

ENEOS PNG has sought Clearance from the ICCC in accordance with Section 81 of the Independent Consumer and Competition Commission Act 2002 (“ICCC Act”), as the proposed acquisition exceeds the K50 million transaction value threshold for mandatory notifications and involves a target company with business operations in PNG.

The ICCC hereby invites submissions and comments from interested stakeholders on this Proposed Acquisition. We request that you only provide your comments if you are of the view that this proposed acquisition is likely to raise some competition issues in any relevant markets so that the ICCC may have a careful scrutiny on those areas of possible competition concerns.

 All submissions provided to the ICCC will be treated as public information unless a specific request for confidentiality is expressly made.

All comments and submissions should be addressed to Mr. Roy Nunts Daggy, Commissioner & Chief Executive Officer, at the address provided below and must reach the ICCC by or before Friday, 14^th November 2025.

The non-confidential version of the Application, including details of the Proposed Acquisition, can be accessed and downloaded from the ICCC website: www.iccc.gov.pg.

All queries relating to this matter should be directed to Mr. Steven Sugl, Executive Manager – Competition Law Enforcement Division on telephone 312 4600 or e-mail to: ssugl@iccc.gov.pg.