Whatever the environment, we are rising to the challenge
A responsible energy company, with a proud history and strong heritage, that contributes to a sustainable future. Established in 1929, our Purpose is to deliver low cost, high value energy that meets society’s needs.
We have a focused portfolio comprising:
- 29% interest in the PNG LNG Project (operated by ExxonMobil);
- operated oil and gas assets in PNG which contribute 20% of PNG LNG gas and produce all of PNG’s oil;
- 51% interest in our Alaska oil assets which are the largest recent US onshore oil discovery; and
- 22.8% interest in Papua LNG, a brownfield LNG growth opportunity.
We are recognised for our proven capability to operate in challenging environments, our world-class resource base and our strong track record of working with communities and stakeholders.
Our Ambition is to be the preferred energy company for all stakeholders, and we have a disciplined three-phase strategy to meet that ambition. We will:
- Focus on our core portfolio of assets, driving sustained low costs and simplifying our PNG operations;
- Deliver our world class Pikka Project at a breakeven cost of supply of below US$40/bbl, achieve a sell-down of a minority stake in the project and commercialise Papua LNG;
- Set a platform to Evolve achieving full potential from Alaska and considering targeted complementary energy investments while maximising shareholder returns and free cash flow.
Sustainability is embedded across the Company and we aspire to set the standard for sustainable development. Our activities are supported by a clear hierarchy for allocating capital, prioritising sustaining capital and a strong, flexible balance sheet.
Today we are a safe, low-cost, reliable business with a clear path to future growth.
Oil Search is listed on the Australian and PNG security exchanges (ticker: OSH) and its ADRs trade on the US Over the Counter market (ticker: OISHY).