Oil Search

Oil Search Supports PNG Drought Relief Efforts

Supplies have been sourced and will be distributed to within the company’s project area in Southern Highlands, Hela and Gulf provinces.

The drought relief efforts started in the Kutubu villages of Kaipu and Sisibia, with the distribution of rice bags, tinned fish and noodles to start off with.

Woodside weighs $2-3 billion debt raise for Oil Search sweetener

Street Talk revealed Woodside was looking at raising debt to help boost its $11.6 billion all scrip offer, with straight bridge financing believed to be the preferred option.

A $3 billion cash sweetener would equate to an extra $1.97 per share, on top of the $7.65 a share scrip offer, taking the total bid to $9.62.

This would signal Woodside was serious in its pursuit of Oil Search, after analysts and investors suggested a bid nearing the $10 mark would be necessary to get a deal over the line.

Woodside chief set to talk with PNG's O'Neill

The PNG based energy producer says the offer grossly undervalues it.

Woodside's chief executive, Peter Coleman, is set to hold talks with the PNG Prime Minister Peter O'Neill this week.

The government holds a 10 per cent stake in Oil Search and has significant sway over whether a deal could proceed, given it also owns 17 per cent in PNG's foundation LNG gas project.

Daffodil Cup raises K100 000 for cancer

The challenge, mainly sponsored by Oil Search Limited, was a success with 28 corporate companies taking part.

The funds will go towards awareness and educating the communities in the cities and rural areas of PNG.

CFPNG chief executive officer Dadi Toka Jnr encouraged the public to be part of the awareness by attending the educational programs carried out nationwide.

“We go out with the message cancer being a lifestyle disease and you can take some preventative measures by changing your lifestyle."

Safety, key priority for Oil Search: Botten

In a teleconferencing today with media workers, Botten said during the first half of 2015, Oil Search recorded a Total Recordable Incident Rate (TRIR) of 1.94 per million hours worked.

“This was a slight improvement on our 2014 TRIR of 1.97 per million hours worked, which ranked Oil Search fifth best among the ASX 100 companies in 20141.”


PNG Loop’s 5@5

Pukpuks to use same side for American Samoa game


PNG Pukpuks coach Sydney Wesley says he has made few changes to tomorrow's round 2 game against American Samoa at the Sir Hubert Murray stadium.

Cultural Commission against destroying cultural items

Oil Search upgrades production target at PNG plant

The Exxon Mobil-operated PNG LNG plant, in which Santos also has a stake, has performed without a hitch since starting last year, ramping up both its ­production trains faster than ­expected and producing at above nameplate capacity.

“Based on the PNG LNG plant’s performance to date, we are confident the project can continue to produce above nameplate capacity of 6.9 million tonnes per year,” Oil Search managing director Peter Botten said.

Minister leading baton relay

Hundreds gathered, waiting for MP Justin Tkatchenko to arrive and start the relay.

He turned up with his daughters, vowing to make the walk all the way to police headquarters at Konedobu.

The Tkatchenko family and supporters were walking down the Scratchley Rd hill to Sabama by 9am and being welcomed by throngs of students and residents all the way.