Days after achieving a major milestone in his quest to build a $US11 billion LNG project in Papua New Guinea, Oil Search managing director Peter Botten explains why the oil price could triple and why his project can succeed.

On May 22, oil and gas explorer Oil Search and its partners ExxonMobil, Santos and AGL Energy signed an agreement with the Papua New Guinea government that allows the companies to start engineering work on a $US11 billion liquid natural gas project in that country. While a final decision on whether to go ahead with the project is yet to be made, the agreement with the PNG government is seen as an important milestone for Oil Search.


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