When Singapore-based Puma Energy wanted to buy the midstream and downstream 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 1 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 Mobilization
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 mobilized personnel to PNG for site inspection and groundwater sampling activities at the higher-risk sites.
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.