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
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Oil Search to raise $1.16bn amid oil slump
Oil Search plans to raise $US700 million ($1.160 billion) to secure additional financial strength as it manages a challenging market environment. The company has launched an entitlement offer, an institutional
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Oil Search suspends PNG activity amid global crisis
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. As a result, all of the Oil
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Oil Search output bounces back from 2018 earthquake
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. Following the
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Horizon plots NZ project life extension
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. The
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PNG JV strives for solution with national government
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. Earlier this
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Oil Search set to abandon Gobe prospect in PNG
Oil Search has continued a drilling program at the Gobe Footwall 1 ST1 well in Papua New Guinea with unsuccessful results. The well, which was spudded in November last year, reached a total depth of 4370
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PNG drops P’nyang deal with ExxonMobil
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
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Horizon marks strong end to 2019
Horizon Oil has completed another encouraging calendar year across its international operations with production of 1.6 million barrels, which resulted in revenue of $US111 million ($161 million). The company’s
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Oil Search delivers record production through PNG LNG
Oil Search has finished 2019 with strong performance with its full-year production reaching 27.9 million barrels of oil equivalent (mmboe). The PNG LNG operation achieved record gross production of 8.5
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