Oil Search Limited (OSL) is PNG’s largest oil and gas exploration and development company that has been operating in PNG since 1929. More than 98% of its assets are in PNG, where it operates all of the country’s producing oil fields, holds an extensive appraisal and exploration portfolio and has a 29% interest in the PNG LNG Project, operated by ExxonMobil PNG Limited. The Company also holds a significant interest in a number of major undeveloped gas fields, including Elk-Antelope in PRL 15, operated by Total SA, and P’nyang in PRL 3, operated by Exxon. These fields, together with the recent Muruk gas discovery, contain sufficient to underpin at least two new PNG LNG-sized LNG trains and, with further appraisal success, possibly three.
In 2016, Oil Search delivered strong performance, both operationally and financially. Total net production of 30.24 mmboe exceeded guidance and was 3% higher than the previous year.
Oil Search is listed on the Australian and Port Moresby security exchanges (Share code: OSH) and its ADRs trade on the US Over the Counter market (Share code: OISHY).
Last Updated: October 4, 2017