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Oil Search sitting pretty to buy Santos assets in PNG
2015-08-25 10:47:13| Oil & Gas - Topix.net
Peter Botten says any investment in Santos assets in PNG will be carefully considered and the price must be right. Oil Search is eyeing some of Santos' assets in Papua New Guinea for potential acquisition, including its stake in the $US19 billion PNG LNG project, as it looks to take advantage of its balance sheet and the low oil price environment to add high-quality assets in its home market.
Oil Search lifts production targets
2015-07-21 07:23:52| Energy - Topix.net
The Papua New Guinea-focused oil and gas producer now expects production in calendar 2015 to be between 27 million and 29 million barrels of oil or equivalent , up from its previous forecast range of 26 to 28 mmboe. The improvement comes after a boost in exports from its PNG liquefied natural gas joint venture took quarterly production to record levels.
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production
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Oil Search upgrades output forecast as PNG LNG venture
2015-07-21 03:20:45| Oil & Gas - Topix.net
Record quarterly production has softened the impact of plunging liquefied natural gas prices for Oil Search and driven an upgrade to its full-year output forecast as the $US19 billion Papua New Guinea LNG project performs above expectations. Oil Search said on Tuesday that based on strong performance in the first half of 2015, it had increased its full-year production guidance by about 1 million barrels of oil equivalent to between 27 million and 29 million boe.
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oil
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Oil Search in talks over Santos PNG deal
2015-06-10 13:07:33| Oil & Gas - Topix.net
Oil Search may sell down part of its stake in the P'nyang gas field in Papua New Guinea to Santos in a move that will give the Adelaide-based company a more lucrative role in a planned expansion of the $US19 billion PNG LNG venture. Santos, which already holds a 13.5 per cent stake in PNG LNG, said in May it was working on a potential deal that would give it a stake in the P'nyang gas field alongside existing partners ExxonMobil, Oil Search and JX Nippon, while declining to reveal any specific details.
Oil Search says low prices to stay
2015-05-30 05:11:38| Energy - Topix.net
Oil Search boss Peter Botten has warned oil prices are likely to stay low for the next five years, putting up to $5.5 trillion worth of projects around the world at risk. Mr Botten said the rise of US shale producers, combined with OPEC countries' determination to preserve their market share meant it would be difficult for oil prices to rise significantly above their current levels.
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