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.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...