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Oil Search Sees FY 2019 Production Being Progressively Restored
Oil Search Expects Ministerial Statement On Papua LNG Gas Deal Review To Be Released on Sept 3
Oil Search Says Liquids Offshore Loading Facilities In Gulf Of Papua Appears Damaged
Oil Search Limited is an oil and gas exploration and production company. The Company is engaged in the exploration for oil and gas fields and the development and production of such fields. The Company's segments include PNG Business Unit (PNG BU), Exploration and Other. The PNG BU segment is engaged in the development, production and sale of liquefied natural gas (LNG), crude oil, natural gas, condensate, naphtha, other refined products and electricity from the Company's interest in its operated assets for Papua New Guinea crude oil and Hides gas-to-electricity operations and from the Company's interest in the PNG LNG Project. The Exploration segment is engaged in the exploration and evaluation of crude oil and gas in Papua New Guinea. The Other segment includes the Company's ownership of drilling rigs, investment and development towards the Company's power strategy and corporate activities. The PNG LNG Project is a 6.9-million tons per annum (MTPA) integrated LNG project.
Oil & Gas Operations
PO Box 842
Richard John Lee
Non-Executive Independent Chairman of the Board
Stephen W. Gardiner
Chief Financial Officer
Executive Vice President, General Counsel, Group Secretary
Executive Vice President - Technology and Value Assurance
Executive Vice President - PNG Business Unit
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Australia-listed Oil Search Ltd said on Monday it was progressively restoring production of oil and condensate at its Papua New Guinea operations as space in storage tanks becomes available.
With a giant gas project expansion in the tropical highlands of remote Papua New Guinea bogged down by politics, the country's biggest company, Oil Search <OSH.AX>, is turning for growth to the other side of the world in Alaska's frozen wilderness.
A former Trump administration official who oversaw oil and gas drilling on federal lands resigned last week to work for Papua New Guinea-based Oil Search Ltd, which is expanding its Alaska operations.
A former Trump administration official who oversaw oil and gas drilling on federal lands resigned last week to work for Papua New Guinea-based Oil Search Ltd, which is expanding its Alaska operations, the Washington Post reported on Wednesday.
* Oil Search shares rise 2% in flat market (Adds Oil Search comment on economy)
Australia's Oil Search said Papua New Guinea will likely make a decision on the Papua LNG deal with French oil major Total SA later on Tuesday, ending months of uncertainty for the project that would double gas exports from the Pacific nation.
Australia-listed Oil Search said on Wednesday it is loading liquids at its facilities in the Gulf of Papua at a reduced rate after temporarily suspending loading last week due to damage to a mooring system.
Oil Search <OSH.AX> warned on Tuesday that costs for a $13 billion plan to double gas exports from Papua New Guinea could rise if talks on a gas agreement between the government and Total SA <TOTF.PA> drag on beyond next week.
Australia's Oil Search Ltd said on Tuesday that current weak spot liquefied natural gas (LNG) prices would have no impact on any arbitration over a long-term contract between Japan's Osaka Gas and the Papua New Guinea PNG LNG project, operated by Exxon Mobil Corp.
Aug 20 - Australia's Oil Search on Tuesday said its half-year profit more than doubled, boosted by robust output at its key Papua New Guinea liquefied natural gas (LNG) project.
Australia's Oil Search said on Monday it was encouraged by a signal from Papua New Guinea's new government that it would back a major gas agreement, even though the government still wanted to renegotiate some terms.
Papua New Guinea's new prime minister used Oil Search Ltd's <OSH.AX> 90th birthday to press the country's biggest company and its oil major partners to pay more tax to the impoverished Pacific island nation.
Australia's Oil Search Ltd on Friday exercised its option to double its stake in several Alaskan assets for $450 million.
The head of Papua New Guinea-focused energy firm Oil Search Ltd said he did not expect to make any significant new concessions on a gas deal it and ExxonMobil Corp hope to strike with the South Pacific nation's new leader.
Australia's Oil Search said on Tuesday its first-quarter revenue fell 21 percent from the preceding quarter, due mainly to the timing of liquefied natural gas (LNG) shipments and weaker oil and gas prices.
* Deal allows initial work to kick off on project -Oil Search
Australia's Oil Search, France's Total SA and Exxon Mobil have signed an agreement with Papua New Guinea for the Papua LNG Project, Oil Search said on Tuesday, enabling initial work to begin on the development.
Australia's Oil Search is confident its partners ExxonMobil Corp and Total SA will be ready to sign off on two big projects in 2020 that together will double liquefied natural gas (LNG) exports from Papua New Guinea.
* NZ benchmark on track for second straight session of losses (Updates to close)
Oil Search Ltd said on Tuesday its third-quarter revenue nearly doubled over the previous quarter as higher oil prices and an uptick in production offset the impact of an earthquake in Papua New Guinea earlier in the year.
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