Oil Search Limited Managing Director, Peter Botten, says a major priority for 2018 is to continue restoration of full production from their operations and PNG LNG Project.
He said this during the company’s 2018 Annual General Meeting in Port Moresby yesterday.
Botten also highlighted their focus on the expansion opportunities and new developments, address benefit distribution issues and a major drilling program in Alaska.
Botten said following the devastating earthquake in February, they are well on track to restore full production of its operations.
Currently, he says they are at around 80 percent of oil production capacity.
Another major focus is the PNG LNG expansion and the development of Papua LNG to Front End Engineering Design (FEED) later this year.
Botten said their vision on how PNG gas development can take place post the LNG development will be defined by work taking place now, guiding where they will explore and how infrastructure can be developed o the Highlands, Gulf and off-shore areas.
The MD also highlighted the company major drilling program in Alaska later this year, which they believe will provide the platform for a FEED decision for the development of the Nanushuk Field in 2019.
Botten said they have world class efforts in their people, oil and gas fields, and unprecedented opportunities to competitively grow their business in the next five years.