Offshore staff
NORTH SYDNEY, Australia – PanPacific Petroleum (PPP) has dropped plans to seekoffers for various oil and gasfield interests.
These include stakes in theTui oil project offshore New Zealand and the Talisman-operated CRD development offshore Vietnam.
The company’s decision follows notice from Zeta Energy that it has now acquired 46.45% of PPP’s shares. Zeta, which is pursuing an unsolicited takeover of PPP, would likely vote against any proposed asset sale.
5/29/2015
