Oil Search remains strong despite COVID-19 impacts

Oil Search acting chief executive officer Peter Fredricson said the company has delivered strong production in the last quarter, supported by the safe completion of the major planned maintenance campaign at PNG LNG by the operator, ExxonMobil. “Operated production from our Moran and Agogo fields continues to perform strongly, and operated gas production was able …
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PNG assets perform strong: Oil Search

Oil Search managing director Keiran Wulff has described that last quarter as stable, with both its growth developments achieving important milestones. Outlined in the company’s quarterly report, the Papua New Guinea (PNG) Government signed a the fiscal stability agreement and awarded a five year licence extension for Papua LNG. “The joint venture is now reviewing …
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Stronger and safer than ever: Oil Search

Oil Search managing director Keiran Wulff believes the company has emerged from 2020 stronger and more resilient as a result of its response to COVID-19. Outlined in the company’s 2020 full year results, Oil Search delivered a full year production of 29 million barrels of oil equivalent and the strongest safety performance since assuming operatorship …
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Papua LNG project back on track

Papua LNG project partners Total (operator), ExxonMobil and Oil Search have signed an agreement with the Papua New Guinean Government that is expected to guarantee the fiscal stability of the proposed development. The agreement, the final step envisioned under the Papua LNG gas agreement, follows the amendments to acts passed by the PNG Parliament in …
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Oil Search output to dip with maintenance programs

Oil Search’s focus on performance, cost and capital allocation continued to deliver results in the December quarter last year, with record annual LNG production in Papua New Guinea (PNG). Outlined in the company’s fourth quarter results, the production rate for 2020 from the PNG LNG project was 8.8 million tonnes (mtpa), the highest ever annual …
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Kumul awards PNG contract to Chiyoda

Chiyoda Corp has secured a design, development and engineering contract with Kumul Petroleum (KPHL) for a floating, storage, re-gasification and power generation (FSRP) facility in Papua New Guinea. The project is considered an important step towards meeting the demand and supply requirement set out in the PNG 2030 Strategic Plan to connect 70 per cent …
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Horizon seals PNG deal with Arran

Horizon Oil has completed the sale of its Papua New Guinea (PNG) operations to Arran Energy for $US3.5 million ($4.9 million). With the sale, Horizon has transferred its entire asset portfolio in PNG, comprising 2C contingent resources of 19.4 million barrels liquids and 599 billion cubic feet raw gas, to Arran Arran, a privately-owned Australian …
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PNG Government passes core legislation for Papua LNG project

Papua New Guinea (PNG) Prime Minister James Marape has passed six pieces of legislation through the country’s parliament to ensure the $US20 billion Papua LNG project proceeds. Marape said despite COVID-19 and global economic contractions, the project’s investors have assured him of their commitment to Papua LNG. “I place my appreciation to our development partners …
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Horizon Oil offloads PNG assets

Horizon Oil has agreed to sell its portfolio of assets in Papua New Guinea to Arran Energy for $US3.5 million ($4.9 million). Following completion of the deal, Horizon will cease to have any operations in PNG. Arran, a privately-owned Australian company and co-venturer with Horizon in PNG, already owns several assets in the country. They …
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Oil Search benefits from strong PNG performance

Oil Search has reported that the ExxonMobil-operated Papua New Guinea (PNG) liquified natural gas (LNG) project continues to perform ahead of expectations. Outlined in the company’s third quarter report, the operation produced at record levels over the first nine months of the year, reaching a rate of 8.8 million tonnes per annum (Mtpa). The output …
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