Energy giants Oil Search (ASX:OSH)
and Santos (ASX:STO)
have received approval from Papua New Guinea's watchdog in relation to its merger.
Clearance from the Independent Consumer and Competition Commission (ICCC) of Papua New Guinea has been satisfied and the merger is set to go ahead.
After on-going talks, the merger still remains subject to certain conditions, including court approval and the satisfaction or waiver of certain other customary conditions.
Shares in Oil Search (ASX:OSH)
are trading 2.8 per cent higher at $4.23. Shares in Santos (ASX:STO)
are trading 2.9 per cent higher at $6.77.