Oil Search

Before it has completed one mega LNG project, Oil Search already has designs on another. The company recently announced a joint venture with French energy giant Total to explore for mega-sized gas deposits in the Gulf of Papua, offshore Papua New Guinea. The agreement covers five offshore licences and Total has bought equity interests ranging from 35% to 50% in each of them. Oil Search will keep operator status on all blocks. Although the company has declined to announce a dollar value for the deal it was highly sought, with multiple parties reportedly bidding to partner in PNG. The...

Before it has completed one mega LNG project, Oil Search already has designs on another. The company recently announced a joint venture with French energy giant Total to explore for mega-sized gas deposits in the Gulf of Papua, offshore Papua New Guinea. The agreement covers five offshore licences and Total has bought equity interests ranging from 35% to 50% in each of them. Oil Search will keep operator status on all blocks.

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