Guidance

2018 Full Year Guidance Date issued 23 October 2018 1
Total production (mmboe) 2 25.0 - 26.0
  
Operating Costs  
Production costs (US$ per boe) 11.50 – 12.50
Other operating costs 3 (US$m) 140 - 150
Depreciation and amortisation (US$ per boe) 12.00 – 13.00
  
Capital Costs (US$m)  
Production 20 - 25
Development – oil and gas 35 - 40
Exploration and evaluation 4 270 - 300
Other plant and equipment 5 45 - 50
Power 6 55 - 60
Total 425 - 475

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 Hides GTE gas purchase costs, royalties and levies, selling and distribution costs, rig operating costs, corporate administration costs (including business development), expenditure related to power activities, inventory movements and other expenses.
4. Excludes Alaska acquisition costs of US$415 million.
5. Excludes finance leased assets.
6. Includes capital expenditure related to the Port Moresby power project. Project expenditure to date has been recorded as a receivable pending the execution of certain agreements that will convert the receivable to investment expenditure.