Guidance

2019 FULL YEAR GUIDANCE1
Date issued 
22 October 2019
Production (mmboe) 
Oil Search-operated2,3 2.8 - 3.5
PNG LNG Project2 24 - 26
Total Production 27 - 29
  
Operating Costs 
Production costs4 (US$ per boe) 12.00 - 13.00
Other operating costs5 (US$m) 140 - 150
Depreciation and amortisation (US$ per boe) 12.00 - 13.00
  
Capital Costs(US$m)  
Production 75 - 85
Development 25 - 30
Exploration and evaluation 294 - 324
Alaska Option exercise 450
Repsol farm-down (net) (64)
Total exploration and evaluation 680 - 710
Other plant and equipment 30 - 40
Power 13 - 18
Total 823 - 883

1. Numbers may not add due to rounding.
2. 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.
3. Includes SE Gobe gas sales exported to the PNG LNG Project (OSH – 22.34%)
4. Guidance includes the total financial impact of earthquake remediation.
5. Includes gas purchase costs, royalties and levies, selling and distribution costs, rig operating costs, power expense and corporate administration costs (including business development), expenditure related to hydrocarbon inventory movements and other expenses.