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King & Spalding has advised Pacific LNG Operations Ltd on the sale of a 23 percent stake in two of its natural gas fields in Papua New Guinea to Oil Search for $900 million, with King &Wood Mallesons advising the buyer.

The King & Spalding team was led by Singapore partner Dan Rogers and Dubai partner Benjamin Newland. The King & Wood Mallesons team was led by partner Adrian Perkins, who was supported by Posman Kua Aisi, KWM’s affiliate firm in Papua New Guinea.

Australia-based oil and gas exploration and development company Oil Search’s stake acquisition in two of Papua New Guinea's biggest undeveloped gas fields, Elk and Antelope, gives it the upper hand to influence plans for gas projects in a country eyed by several energy giants, according to a Reuters report.

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