Papua New Guinea acquires interest in Oil Search

Offshore staff

PORT MORESBY, Papua New Guinea – Oil Search Ltd has completed the placement of shares with the Independent State of Papua New Guinea.

Completion of the relevant PAC LNG companies holding 22.83% interest in PRL 15, the Elk/Antelope gas discoveries, should be completed later this week.

“We welcome the continuation of the government shareholding in Oil Search, underscoring our alignment with the State through the next phase of oil and gas development in Papua New Guinea,” said Peter Botten, managing director of Oil Search.

3/12/14

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