Oil Search

Oil Search continues support for Kutubu Kundu & Digaso Festival

The Kutubu Kundu (drum) and Digaso (oil) Festival held annually is an initiative of the Kutubu Foe Culture group and Oil Search has been a proud sponsor of the event since its inception in 2011.

Barikewa-3 well test successful: OSL

The well flowed gas to surface at 35 million standard cubic feet of gas per day (mmscf/d) on a 68/64” choke. Onsite analysis of the gas from the drill stem test and earlier wireline sampling confirms a dry gas with approximately 20 percent nitrogen and very low levels of other impurities, in line with pre-drill expectations.

Restoring vital services after quake

Following an assessment carried out by the Company’s Community Affairs Department, the team identified extensive damages to water supplies, buildings and solar panels.

The restoration exercise is conducted concurrently with the Company’s relief efforts in the communities of Sisibia, Kaipu and Hebaiya and will continue to other villages over the coming weeks.

OSL production dips in 1st quarter

This drop is reflected in the shut in of Oil Search-operated production and the PNG LNG Project following the 7.5 magnitude earthquake that struck the PNG Highlands on 26 February 2018.

Oil Search has now revised its 2018 production guidance to 23 – 26 mmboe, while unit production costs are expected to be in the range of US$10.50 – 13.50 per boe and depreciation and amortisation charges are forecast to be between US$12 and US$13 per boe. Capital cost guidance has been reduced to US$425 – 520 million.

Potential for gas development remains enormous

And the company is looking at the right partnerships to bring these to commercial reality.

Botten said around 80 per cent of the country’s gas resources, beginning at the North West of the country to the Off-shore Gulf Gas fields, are yet to be discovered.

He said the confidence they have in this position is evident in the company acquiring 16 new licenses over the last few years.


Oil Search supports Hela PHA staff

These staff had selflessly put aside their own needs to ensure much needed health services continued after last month’s 7.5 magnitude earth quake.

The kits, a total of 300, contained basic food items (10 k bags of rice, tinned beef and milo), soap, washing powder, blankets, tarpaulins, solar lights and K10 mobile phone top-up cards.

OSL disaster funds almost exhausted: Botten

He said over the last two weeks, the company had undertaken intense relief efforts, conducting more than 87 supply drops of a combined total of nearly 50 tons of supplies and materials.

Most of these have been done using helicopters flying to remote parts of the impact areas.

Botten said it was an expensive exercise but it was only fair the company did its part as a member of the community.

No staff injuries following earthquake: OSL

“Oil Search’s primary concern is the safety of our employees and contractors. The Company is presently confirming that all personnel have been accounted for,” says the firm in a statement.

“As a precautionary measure and in order to assess any damage to facilities, Oil Search’s production operations in the PNG Highlands are in the process of being shut-down.

“ExxonMobil PNG Ltd has confirmed that the PNG LNG facility at Hides has also been safely shut down.

You can be a scientist too!

Those were challenging times for women, but Florence Bascom pursued her love of science and went on to make innovative contributions to the field of geology and is considered to be the first American woman geologist.

Bascom paved the way for women everywhere, including graduate geoscientist Velencia Komun from Western Highlands, who recently joined Oil Search through its graduate development programme.

PNG Biomass project taking shape

Basically the project aims to create electricity out of steam from wood.

On Tuesday the company released a snapshot of what its power generation plant will look like.

“The power plant’s generation capacity will be provided by two 15 megawatt electric (MWe) power plant units, comprised of 2x18 MW steam boilers and 2x18 MW steam turbines.

“Each 18MW boiler unit will be about 34 metres tall and will use stoker-grate technology, which is a robust design suitable for PNG conditions,” said OSL.