Due Diligence Helps Puma Energy Approach
Due Diligence Helps Puma Energy Approach
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Due Diligence, Puma Energy

Our environmental liability advice helped to inform a business acquisition in Papua New Guinea.

Location

  • Australia

Client

Project Value

  • AU$2 million

Project Status

  • Completed 2014

When Singapore-based Puma Energy wanted to buy the mid-stream and down-stream petroleum assets of InterOil in Papua New Guinea (PNG), they sought urgent contaminated land advice regarding the potential environmental liability associated with the proposed purchase.

 

The InterOil portfolio was distributed across the country and included one refinery, 16 terminals, 12 airport assets and 55 service stations. The assessment was logistically challenging, particularly given the compressed timeframe required to meet the due diligence restrictions for the contract of sale.

 

Rapid Time to Mobilisation

To complete this time-sensitive project, we began with a desktop risk assessment of the vendor's data room and public resources. Then, we rapidly mobilised personnel to PNG for site inspection and groundwater sampling activities at the higher-risk sites.

 

Tangible Benefits

We provided pragmatic and timely advice regarding the potential environmental liability of each asset. This allowed Puma Energy to approach the acquisition with comfort and apportion funding to address existing and future liabilities.

OTHER CHALLENGES THAT WE HAVE OVERCOME