Oil Search

OSL supports organisations

The Company presented dry and frozen food to representatives of the organisations on the eve of Papua New Guinea’s 45th Independence Day Anniversary (Tuesday, 15 September 2020).  

Leon Buskens, Oil Search Country Manager, said: “It has been quite a challenging time for all of us and more so for those who provide essential services to the sick, the needy, at risk children and youth, survivors of gender-based violence and persons with disabilities.


OSL resumes trading on PNGX

The injunction against the orders of the Securities Commission of PNG now allows for the recommencement of trading of its shares on PNGX.

On June 2nd, the Securities Commission of PNG issued orders suspending the trading of Oil Search Shares on PNGX, allegations that Oil Search breached the PNG Capital Market Act by failing to obtain approval from the Securities Commission for the PNG Retail component of its recent capital raising.

P'nyang discussions resume

In its March Quarter Report for 2020 Oil Search says it remains committed to progressing the three-train integrated expansion project, a highly cost-effective development, at the appropriate time.

The agreement is required before the LNG expansion project can move into the FEED phase.

Formal negotiations between ExxonMobil, on behalf of co-venturers, and the PNG Government on the P’nyang Gas Agreement were suspended in late January after a failure to reach an agreement on the project.

Western Leaders back PM on Pnyang

Western Governor, Taboi Awi Yoto, and North Fly MP, James Donald, announced in a joint statement their endorsement of the Prime Minister stance to stop negotiations and focus on other resource projects currently in the pipeline.

According to the statement the leaders said PNG was entitled to a fair deal. And after the PNG LNG Project, they expectied ExxonMobil and project partner, Oil Search, to display commercial fairness and reasonableness.

The leaders said the companies chose to discard these core virtues.

Oil Search launches scholarship program

The scholarships worth K5.7million is open to all Papua New Guineans, with priority given to candidates from
Oil Search’s project impact area provinces based on merit and includes support to secondary schools.  

The scheme was launched in Port Moresby (Friday 8 November, 2019) by Dale Rollins, Oil Search Executive Vice President & President PNG and Linda Griffin, Oil Search Senior Vice President for People & Culture. Joining the launch were science students Maureen Alphonse and Longfield Tai, the first recipients of the Internship element of the new program.


Mother, twins rescued from remote location

The 26-year-old mother from Subu 1 village in Gulf Province had gone into labour in the bush before she could reach a health centre.

Little did she know one of her twins was lying in a transverse position that could prove fatal for her and the baby. After the woman successfully delivered the first baby, she went into obstructed labour which lasted for more than 5 hours.


105pc rise in profit: OSL

In its 2019 half year results report, OSL said this was a strong result, underscored by an excellent performance from the PNG LNG Project, which produced at an annualised rate of 8.6 MTPA for the first half of 2019, despite a two-week partial shut-in for scheduled maintenance.

“Total revenue increased 39.3 percent to US$776.9 million, driven by higher hydrocarbon sales volumes and an 8 percent increase in realised LNG and gas prices, partly offset by 9 percent lower realised oil and condensate prices.


Oil Search maintains it pays tax

“I like to believe that PNG governments in the past and present have had quite a significant input into what Oil Search is today and without that support, Oil Search shares will still be pegging along the same track as Santos and many of the companies operating in the country,” Marape said at Oil Search’s 90-year anniversary gala dinner event in Port Moresby.

“I want to pay my respects to the landowners of the entire areas in which Oil Search has operated since 1929, some of them here tonight, me included.

A local boy’s dream…

There are pigs, cassowaries and dogs, no cars but dugout canoes on the lake, with people fishing and traveling to the nearest village, and the constant sound of the crash of the breakers from the lake.

This is Harabiyu village located near Lake Kutubu, Southern Highlands of Papua New Guinea. It is also the focus of the Kutubu oil project, PNG’s first commercial oil field development.

Oil was first discovered here in 1986 with commercial production in June 1992.

Meri asples abrusim dai

Lucy John i gat tripela pikinini na em i bilong Wabo ples long Galp Provins.

Dispela snek we i kaikai dispela meri em i snek i gat poisin long kilim man hariap. Man bilong Lucy, Iksy John, i bin hariap long karim meri bilong em long bot long nait yet i go long Oil Search Seismic Bes Kemp olsem 40 kilomita longwe.

Tupela marit i kam bungim Dokta Robert Imambu bilong Oil Search na ol medikal tim i hariap long putim entivenom infusen na was long em long nait.