LICENCE+FIELD/PROJECTOIL SEARCH INTEREST %OPERATOR

PNG Petroleum Development Licences (PDL)
PDL 1 Hides 16.66 ExxonMobil
PDL 2 Kutubu, Moran 60.05 Oil Search
PDL 2 - SE Mananda JV SE Mananda 72.27 Oil Search
PDL 3 SE Gobe 36.36 Santos
PDL 4 Gobe Main, SE Gobe 10.00 Oil Search
PDL 5 Moran 40.69 ExxonMobil
PDL 6 Moran 71.07 Oil Search
SE Gobe Unit (PDL 3/PDL 4)   22.34 Oil Search
Moran Unit (PDL 2/PDL 5/PDL 6)   49.51 Oil Search
Hides Gas to Electricity Project (PDL 1)   100.00 Oil Search
PDL 7 South Hides 40.69 ExxonMobil
PDL 8 Angore 40.69 ExxonMobil
PDL 9 Juha 24.42 ExxonMobil
APDL 11 Mananda 71.251 Oil Search
APDL 13 P’nyang 38.512 ExxonMobil
PNG LNG Project PNG LNG Project 29.00 ExxonMobil

PNG Pipeline Licences (PL)
PL 1 Hides 100.00 Oil Search
PL 2 Kutubu 60.05 Oil Search
PL 3 Gobe 17.78 Oil Search
PL 4 PNG LNG Project 29.00 ExxonMobil
PL 5 PNG LNG Project 29.00 ExxonMobil
PL 6 PNG LNG Project 29.00 ExxonMobil
PL 7 PNG LNG Project 29.00 ExxonMobil
PL 8 PNG LNG Project 29.00 ExxonMobil

PNG Petroleum Processing Facility Licence
PPFL 2 PNG LNG Project 29.00 ExxonMobil

PNG Petroleum Retention Licences (PRL) *
PRL 8 Kimu 60.71 Oil Search
PRL 9 Barikewa 45.11 Oil Search
PRL 10 Uramu 100.00 Oil Search
PRL 14 Cobra, Iehi 62.56 Oil Search
PRL 15 Elk/Antelope 22.835 Total
APRL 41 Flinders/Hagana 100.00 Oil Search

PNG Petroleum Prospecting Licences (PPL) **
PPL 339   35.003 Oil Search
PPL 374   40.006 ExxonMobil
PPL 375   40.007 ExxonMobil
PPL 385   100.00 Oil Search
PPL 395   100.004 Oil Search
PPL 402   50.005 Oil Search
PPL 464   50.00 ExxonMobil
PPL 487   50.00 ExxonMobil
PPL 504   100.001 Oil Search
PPL 507   50.001 ExxonMobil

Yemen
Block 7   34.008 Oil Search

+As at March 1, 2017

1 Pending Ministerial grant.
2 The PDL application submitted by the PRL 3 joint venture in respect of the P’nyang field in December 2015 remains pending Ministerial grant.
3 Total’s farm-in to PPL 339 completed on 1 March 2017.
4 Oil Search’s sale to ExxonMobil of a 50% interest in PPL 395 remains subject to regulatory approval.
5 In December 2016, Oil Search entered into an agreement with ExxonMobil and Santos under which Santos will potentially acquire a 20% interest in PPL 402 (being a 12.5% interest from Oil Search and a 7.5% interest from ExxonMobil). After completion of the transaction, Oil Search will hold a 37.5% interest in the licence.
6 In August 2016, Oil Search entered into an agreement with CNOOC and ExxonMobil under which Oil Search will potentially acquire a 40% interest in PPL 374. Oil Search received notification of the regulatory approval of its acquisition in late February 2017.
7 In August 2016, Oil Search entered into an agreement with CNOOC and ExxonMobil under which Oil Search will potentially acquire a 40% interest in PPL 375. Oil Search received notification of the regulatory approval of its acquisition in late February 2017.
8 40% paying interest. Oil Search is yet to complete the sale to Petsec Energy Limited of all of the shares in the entity holding Oil Search’s interest in Block 7.

* A PRL application has been lodged over the Flinders and Hagana Gas Fields which are part of PPL 244. The application is pending Ministerial grant.
** Topfile applications for new PPLs were lodged over former PPLs 233, 234, 260, 277 and 294. In respect of the former PPL 234, a new PPL (PPL 504) has been offered to and accepted by Oil Search and is pending Ministerial grant. In respect of the former PPL 294, a new PPL (PPL 507) has been offered to and accepted by Oil Search and ExxonMobil and is pending Ministerial grant.