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Oil Search lifts profit and dividend

2015-02-24 06:50:48| Energy - Topix.net

A near tripling of production has helped Oil Search achieve a 72 per cent rise in annual profit, even with a massive charge related to falling oil prices. The oil and gas explorer made a net profit of $US353 million in 2014, up from $US206 million in 2013, as production nearly tripled and revenue more than doubled.

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Oil Search to reap PNG LNG cash flows as project deemed complete

2015-02-06 09:59:58| Oil & Gas - Topix.net

Oil Search is set to enjoy a bounty of more than $US800 million to redirect toward LNG expansion after the $US19 billion Papua New Guinea liquefied natural gas project was deemed financially "complete" for its lenders. Some $US700 million of the total is Oil Search's first share of cash flows from the project since it began production eight months ago while the rest is the funds held in escrow to satisfy the company's lenders that will now be released.

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Oil Search to reap PNG LNG cash flows as project deemed complete

2015-02-06 08:38:10| Energy - Topix.net

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ExxonMobil, Oil Search and Santos inch closer to PNG LNG expansion

2015-01-19 12:44:13| Oil & Gas - Topix.net

Expansion of the giant PNG LNG project in Papua New Guinea moved a step closer when ExxonMobil and Oil Search agreed on a construction timeline with the local government. The deal would see a final decision on building a third LNG processing train, or plant, taken as soon as possible but no later than "the end of 2017", the companies said.

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