As a truly Papua New Guinean company, Oil Search is a PNG specialist and a partner of choice.
Oil Search was established in Papua New Guinea (PNG) in 1929. More than 98% of its assets are in PNG, where it operates all of the country’s producing oil fields, holds an extensive appraisal and exploration portfolio and has a 29% interest in the PNG LNG Project, operated by ExxonMobil PNG Limited. This world-class liquefied natural gas (LNG) development, which came on-stream in 2014, has transformed Oil Search into a regionally significant oil and gas producer, with a long-term, low cost, high quality LNG revenue stream. The Company also holds a 23% interest in PRL 15, operated by Total SA, which contains the world-class Elk-Antelope gas fields.
Oil Search has a clear strategy to drive future growth. We are pursuing opportunities to develop additional LNG trains in PNG, underpinned by existing discovered gas resources in the NW Highlands, including the P’nyang gas field in PRL 3, and the Elk-Antelope fields in the onshore Gulf Province. Oil Search believes that there is presently sufficient gas to support at least two PNG LNG-sized expansion trains and possibly three trains, contingent on additional appraisal drilling.
We are also undertaking a range of exploration and appraisal activities to support further LNG expansion in PNG.
Oil Search is listed on the Australian and Port Moresby security exchanges (Share code: OSH) and its ADRs trade on the US Over the Counter market (Share code: OISHY).
Investing in PNG's future
With 87 years of in-country experience, Oil Search is the largest company and investor in PNG. With a clear strategy to future growth, we are working closely with joint venture partners, regulators, the PNG Government, landowners and communities to ensure long-term, mutually beneficial outcomes.