Oil Search has completed a review of the company and its cost structure, positioning it to operate safely, cost efficiently and to progress its opportunities in Papua New Guinea (PNG).
Nacap has confirmed that all systems are go on its Papua New Guinea project, with its team developing an essential condensate pipeline.
Oil Search has described the first quarter of 2020 as one of the most “volatile periods in history” for the company despite production increasing by 5 per cent and operated production sky-rocketing by 43 per cent amid COVID-19. Read more
Oil Search plans to raise $US700 million ($1.160 billion) to secure additional financial strength as it manages a challenging market environment.
Oil Search has taken action to bring an immediate halt to all of its key Papua New Guinea projects following the recent decline in oil prices and impact of the coronavirus. Read more
Oil Search managing director Kieran Wulff has commended the company for its improved production results following the impact of the 2018 earthquake in Papua New Guinea’s Highlands. Read more
Horizon Oil has continued to deliver strong oil production from its stakes in the Maari and Manaia fields, New Zealand, with 310,122 barrels of oil recorded in the company’s 2020 half year report. Read more
Oil Search has reinforced that a solution to the P’nyang gas agreement with the Papua New Guinea Government remains a key hurdle that the project’s joint venture plans to overcome. Read more
Oil Search has continued a drilling program at the Gobe Footwall 1 ST1 well in Papua New Guinea with unsuccessful results. Read more
The Papua New Guinea Government has reportedly pulled the plug on negotiations with ExxonMobil in regards to developing the P’nyang gas project following the company’s “unwillingness to agree to reasonable terms”. Read more