|2019 FULL YEAR GUIDANCE1|
Date issued22 October 2019
|Oil Search-operated2,3||2.8 - 3.5|
|PNG LNG Project2||24 - 26|
|Total Production||27 - 29|
|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|
|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.