Oil Search Ltd. Company News
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ExxonMobil Reports Papua New Guinea Discovery
Tuesday, January 16, 2018Latest PNG discovery confirms southeast extension of P'nyang field.
Papua New Guinea Government To Sell Stake In Oil Search
Thursday, September 21, 2017The cash-strapped government of Papua New Guinea (PNG), looking to pay off nearly $1 billion in debt, is selling its stake in Oil Search.
Oil Search Profit Soars, Focus On Advancing PNG Gas Projects
Tuesday, August 22, 2017Oil Search expects its partners to agree by year-end on how to coordinate development of their Papua New Guinea gas projects.
Oil Search Q3 Revenue Beats Forecasts
Tuesday, October 18, 2016Papua New Guinea-focused Oil Search reports a 16% rise in 3Q revenue over the previous quarter, thanks to a rise in oil and gas prices and higher volumes.
Exxon's Pacific Gas Partner Sees LNG 'Revolution' Among Buyers
Wednesday, August 24, 2016Exxon Mobil Corp.'s partner in a $15 billion liquefied natural gas export project in Papua New Guinea sees Asian buyers pushing back on the pricing and structure of LNG contracts as a glut of supply gives them greater bargaining power.
Oil Search Won't Counter Exxon Bid For Gas Explorer InterOil
Thursday, July 21, 2016Oil Search declines to submit a counteroffer for Papua New Guinea-focused gas explorer InterOil, leaving Exxon Mobil Corp. to wait and see if Total will challenge its bid alone.
Total Seen Unlikely to Fight Exxon Mobil Over South Pacific Gas
Wednesday, July 20, 2016Total SA is unlikely to challenge ExxonMobil in a bidding war for explorer InterOil Corp, the French firm's partner in a gas field in Papua New Guinea, analysts said on Wednesday.
Even The Losers May Win As Exxon Outbids Partner For PNG Gas
Tuesday, July 19, 2016Being outbid by Exxon Mobil Corp. for prized Papua New Guinea natural gas assets might actually be a good thing for Oil Search Ltd.
Oil Search Says Exxon Makes 'Superior' Bid for PNG's InterOil
Monday, July 18, 2016ExxonMobil offers superior bid for InterOil, according to Oil Search, which is also in the running for large natural gas reserves in Papua New Guinea and the possibility to export the fuel from the Pacific nation.
Sources: Exxon Tops Oil Search's Bid For InterOil
Wednesday, July 13, 2016ExxonMobil tables an offer to buy InterOil topping the $2.2 billion deal from Australia's Oil Search, according to people familiar with the matter.
Repsol Plugs & Abandons Strickland 2 Prospect in PRL 269 in PNG
Thursday, July 07, 2016Oil Search plugs and abandons the Strickland 2 prospect in Petroleum Retention Lease (PRL) 269 in the Highlands of Papua New Guinea.
Dozens Reported Wounded As PNG Police Fire On Protesters, Riots Spread
Wednesday, June 08, 2016Dozens of people were wounded in Papua New Guinea after police opened fire on a student demonstration in the capital and riots erupted across the country, but officials say earlier reports of up to four dead are incorrect.
Repsol Continues Drilling at Strickland 2 Prospect in PNG's Highlands
Friday, June 03, 2016Repsol continues drilling activities at Strickland 2 exploration well in Petroleum Retention License 269 in Papua New Guinea's Highlands.
Proxy Firm Backs Oil Search Takeover Of InterOil
Tuesday, May 31, 2016A major proxy advisor has backed a $2.2 billion takeover of InterOil by Australia's Oil Search, and recommended InterOil shareholders reject an attempt by the firm's founder to oust the board at a meeting on June 14.
PNG Watchdog: Oil Search, InterOil Should Seek Approvals For Merger
Tuesday, May 24, 2016Papua New Guinea may challenge the $2.2 billion merger between Oil Search and InterOil if they fail to comply with anti-competition procedures, the country's corporate watchdog says.
Oil Search Boost LNG Push In PNG With $2.2B InterOil Bid
Friday, May 20, 2016Australia's Oil Search agrees a $2.2 billion deal to acquire InterOil in a move that could pave the way for two rival liquefied natural gas projects led by global majors to work together in Papua New Guinea.
Planned Papua LNG Project May Create 10,000 Construction Jobs in 2018
Monday, May 16, 2016Total is progressing work on the Papua LNG Project in PRL 15 in Papua New Guinea and construction is expected to commence in 2018, creating up to 10,000 jobs.
Papua New Guinea LNG Projects See Opportunity In Tough Market
Tuesday, April 19, 2016As LNG producers despair over a supply glut, two projects in Papua New Guinea are pressing on in a bid to sign off on new developments by 2018.
InterOil Commences Test Flow at Antelope-5 Well in PNG's Gulf Province
Friday, January 22, 2016InterOil commences flow test at Antelope-5 well in Petroleum Retention License 5 in the Gulf Province of Papua New Guinea.
Australia's Beach Energy Appoints Oil Search's Matthew Kay as CEO
Tuesday, January 12, 2016Australia's Beach Energy appoints Oil Search senior executive Matthew Kay as its new CEO.
Total Spuds Antelope-6 Appraisal Well in PRL 15 in Papua New Guinea
Monday, December 28, 2015Total spuds the Antelope-6 appraisal well in Petroleum Retention License 15 in the Gulf Province of Papua New Guinea.
Woodside Abandons $8B Takeover Bid for Oil Search
Tuesday, December 08, 2015Woodside abandons its $8 billion offer for PNG-focused Oil Search almost three months after the bid was rejected, dropping plans for what would have been the biggest energy takeover in Asia.
InterOil Reports Positive Drilling Results at Antelope 4ST1 in PNG's PRL 15
Thursday, November 19, 2015InterOil reports that wireline logging from the Antelope-4 sidetrack-1 well in Petroleum Retention License 15 in Papua New Guinea confirms a high quality gas reservoir.
Oil Search Updates on Drilling at Antelope 4ST1 Well in PNG's PRL 15
Thursday, November 05, 2015Oil Search updates on drilling at the Antelope 4ST1 well in Papua New Guinea's PRL 15, with the partners planning to proceed with a data acquisition program.
Oil Search: PNG LNG to Run Well Above Design Capacity Through 2016
Tuesday, October 20, 2015The Papua New Guinea Liquefied Natural Gas project is expected to run at least 6 percent above its name plate capacity through 2016, takeover target Oil Search says, highlighting the value of its prized asset.
AFR: Woodside CEO Says Doesn't Want to Raise Bid for Oil Search
Monday, October 05, 2015Woodside's chief executive says the company does not want to raise its $8.2 billion offer for Oil Search because it would hurt his shareholders, the Australian Financial Review reports.
Petsec Energy Completes Acquisition of 29.75% Stake in Yemen's Block 7
Thursday, October 01, 2015Australia's Petsec Energy completes acquisition of a 29.75 percent stake in Yemen's onshore Block 7 in the Al Barqa permit from Mitsui and AWE.
Oil Search Rejects Woodside's $8B Takeover Bid as Too Low
Monday, September 14, 2015Oil Search rejects Woodside's $8 billion takeover bid, saying the proposal undervalues the company's liquefied natural gas expansion plans in Papua New Guinea.
Woodside's $8 Billion Oil Search Bid Targets Lower Costs in PNG
Wednesday, September 09, 2015With sliding energy prices threatening the viability of liquefied natural gas projects around the world, it doesn't seem like the greatest time to make an $8 billion bet on the fuel.
Woodside Confirms Takeover Bid for Oil Search, Estimated at $8.1B
Tuesday, September 08, 2015Woodside confirms takeover proposal for Papua New Guinea-focused Oil Search, estimated to be worth around $8.1 billion.
Total Commences Drilling at Antelope-4 Sidetrack Well in PNG's PRL 15
Tuesday, September 01, 2015Total commences drilling of a side-track well at the Antelope-4 site in PRL 15 in Papua New Guinea.
Oil Search Eyeing Acquisitions in PNG
Tuesday, August 25, 2015Oil Search Ltd is looking for acquisitions in Papua New Guinea, where it holds the bulk of its assets, but Managing Director Peter Botten says deals may take some time as buyer and seller expectations remain wide apart.
InterOil to Drill Antelope 4 Sidetrack Well in PNG's PRL 15 Soon
Tuesday, August 04, 2015Oil Search reveals that InterOil will be drilling the Antelope 4 well in Petroleum Retention License 15 in Papua New Guinea soon.
PRL 15 JV Selects Key Infrastructure Sites for Elk-Antelope LNG Project
Friday, July 03, 2015The PRL 15 Joint Venture selects key infrastructure sites for the Elk-Antelope gas field development in Papua New Guinea.
Neptune Marine Services Clinches PNG Subsea Contract from Oil Search
Tuesday, May 05, 2015Australia's Neptune Marine Services clinches a five year offshore diving and subsea inspection services contract by Oil Search in Papua New Guinea.
InterOil Commences Flow Testing at PNG's Elk-Antelope Gas Field
Tuesday, April 28, 2015InterOil commences flow testing at the Elk-Antelope gas field in Papua New Guinea as project partners hope to select a preferred development concept by mid-year.
Petsec to Operate Yemen's Block 7 After Acquiring Oil Search's Local Unit
Friday, April 17, 2015Petsec Energy takes over as operator of Block 7 in Yemen after increasing its stake in the permit through acquisition of Oil Search's Yemeni subsidiary.
Total to Take Over as Operator of Papua New Guinea's PRL 15 JV
Monday, March 02, 2015Total will take over as operator of petroleum retention license 15 in the Gulf Province, Papua New Guinea.
ICC Arbitration Panel Declares Total a Party to PRL 15 JVOA in PNG
Wednesday, February 11, 2015The International Chamber of Commerce arbitration panel declares Total a party to the Petroleum Retention License 15 Joint Venture Operating Agreement in Papua New Guinea.
Oil Search To Cut Spending To Cope With Crash Of Crude Price
Thursday, January 29, 2015Oil Search, which tripled production in 2014, is now looking to cut spending in the wake of the near 60% drop in crude prices since June.
PNG LNG Project Nears Financial Completion, Ends 120-Day Operational Test
Tuesday, January 20, 2015Oil Search discloses that the PNG LNG Project has successfully completed the 120-day operational test, moving the development towards financial completion.
Energy Minister: PNG Wants Total To Develop Disputed Gas Field
Thursday, September 25, 2014Papua New Guinea wants Total to lead construction of a new LNG export project drawing gas from a disputed field, the country's energy minister says.
Development Drilling at PNG LNG Project's Hides Gas Field Nears Completion
Friday, September 19, 2014ExxonMobil says development drilling at Hides gas field in the Papua New Guinea liquefied natural gas project nears completion.
Kurdistan's Taza 2 Well Drilling Remains Suspended on Security Concerns
Thursday, August 28, 2014Oil Search reports that drilling at Taza 2 appraisal well in Kurdistan, Iraq remains suspended due to security situation in the region.
Oil Search Half-Year Profit Tops Forecasts As PNG LNG Flows
Tuesday, August 19, 2014Oil Search beat forecasts with a 34% rise in half-year profit, boosted by the start of exports from the PNG LNG project which is expected to quadruple the company's output in 2015.
Oil Search to Conduct Testing Program at Taza-2 Well in Kurdistan
Thursday, August 07, 2014Oil Search plans to undertake a comprehensive testing program at Taza 2 well in Kurdistan, Iraq.
Oil Search Observes Hydrocarbon Shows at Taza 2 Well in Kurdistan
Friday, July 11, 2014Oil Search observes hydrocarbon shows at the Taza 2 well in Kurdistan, Iraq.
Cape Clinches Contract for Work at Kumul Marine Terminal Offshore PNG
Monday, May 26, 2014Cape clinches a contract from Oil Search for work at the Kumul Marine Terminal offshore Papua New Guinea.
Oil Search Updates on Drilling at Taza-2 Well in Kurdistan
Friday, April 25, 2014Oil Search provides an update on drilling at the Taza 2 well in Kurdistan, Iraq.
Oil Search Fights Sale Of PNG Gas Field Stake To France's Total
Friday, March 28, 2014Oil Search issues a notice of dispute to an InterOil entity pursuant to the Elk/Antelope PRL 15 joint venture agreement in Papua New Guinea.