Oil Search
Type | Dual-listed public company |
---|---|
ASX: OSH | |
Industry | Petroleum |
Founded | 1929 |
Headquarters | Port Morseby , Papua New Guinea |
Key people | Richard Lee (Chairman) Kieran Wulff (Managing Director) |
Services | Oil & gas exploration |
Revenue | US$ 1.1 billion (2020) |
(US$ 175 million) (2020) | |
(US$ 321 million) (2020) | |
Website | www.oilsearch.com |
Oil Search is the largest oil and gas exploration and development company incorporated in Papua New Guinea, which operates all of Papua New Guinea's oilfields.
History[]
Oil Search was founded in 1929.[1] It is now one of Papua New Guinea's largest companies, and in 2006 was responsible for 13% of Papua New Guinea's gross domestic product.[2] It is publicly listed on the Port Moresby and Australian Stock Exchanges.[2] It has a market capitalization of around US$12 billion.
A 17.6% interest in the company is held by the Government of Papua New Guinea,[2] aThe company also operates areas in Yemen, Egypt, Libya, and the Kurdistan region of Iraq.[2] In May 2014, ExxonMobil shipped the first cargo of liquefied natural gas (LNG) from the US$19 billion PNG LNG Project, in which Oil Search owns a 29% interest.[3]
In 2021, Oil Search agree terms with Santos to merge with Oil Search shareholders to take a 38.5% shareholding in Santos. The merger is subject to shareholder and regulatory approval.[4][5]
References[]
- ^ History Oil Search
- ^ Jump up to: a b c d Profile at official site
- ^ http://www.lngindustry.com/news/liquefaction/articles/First_cargo_from_PNG_LNG_655.aspx#.U84_V4BdXGJ
- ^ Santos and Oil Search combine to create a regional champion of scale with a diversified portfolio of long-life and low-cost oil and gas assets Oil Search 10 September 2021
- ^ Santos, Oil Search agree to merge despite scrutiny in Papua New Guinea Reuters 10 September 2021
External links[]
- Companies listed on the Australian Securities Exchange
- Dual-listed companies
- Oil and gas companies of Papua New Guinea
- 1929 establishments in Papua New Guinea
- Petroleum company stubs