Oil Search operates all of PNG’s producing oil fields and holds a 29 per cent interest in the ExxonMobil-operated PNG LNG Project – a world class project exporting to major markets in Asia. Additionally, we hold interests in the Elk-Antelope and P’nyang gas fields, which are expected to underpin the proposed construction of three additional LNG trains, with approximately 8 MTPA capacity.
Our joint venture partners are amongst the most successful and reputable oil and gas operators in the world. The combination of our in-country expertise, our partners' technical and project management skills and PNG's world class assets, leaves us well positioned to develop additional LNG capacity and grow PNG's presence in the global LNG market.
With a vast and highly prospective exploration portfolio in PNG, future activities will focus on the highest quality prospects that will create the most value for all stakeholders.
In 2018, Oil Search undertook a transformational acquisition of oil leases on the Alaskan North Slope (USA) - a prolific, well-established oil province. As well as one of the largest conventional, onshore oil fields discovered in the US in the last few decades, the Alaskan portfolio contains many exciting exploration and appraisal opportunities with material resource upside.