Guidance

2018 Full Year Guidance1Date issued 21 August 20182
PRODUCTION (mmboe) 
Oil Search operated PNG oil and gas3,43.0 - 4.0
PNG LNG Project321.0 - 22.0
Total production24.0 - 26.0
  
OPERATING COSTS 
Production costsUS$11.0 - 13.0/boe
Other operating costs5US$140 - 150m
Depreciation and amortisationUS$12.0 - 13.0/boe
  
CAPITAL COSTS(US$, million) 
Exploration & Evaluation270 - 330
Development40 - 50
Production 25 - 30
Other PP&E50 - 55
Power50 - 65
Total 435 - 530

1. Numbers may not add due to rounding  
2. Incorporates impact of 7.5 magnitude PNG Highlands earthquake in February 2018
3. Gas volumes have been converted to barrels of oil equivalent using an Oil Search specific conversion factor of 5,100 scf = 1 boe, which represents a weighted average, based on Oil Search's reserves portfolio, using the actual calorific value of each gas volume at its point of sale  
4. Includes SE Gobe gas sales.  
5. Includes gas purchase costs, royalties and levies, selling and distribution costs, rig operating costs, power expense and corporate administration costs (including business development), other expenses and inventory movements
6. Excludes Alaska acquisition costs