LNG

Oil Search, the oil and gas company with LNG shareholdings in Papua New Guinea and the subject of a bid by Australia’s Santos, reported a jump in second-quarter operating revenues and lower debts.

Oil Search, Papua New Guinea’s biggest company and a shareholder in the PNG LNG plant and its expansion, has successfully obtained an interim injunction from the National Court allowing the recommencement of trading of its shares on the PNG National Stock Exchange.

Oil Search Managing Director Peter Botten, one of the leading figures in Papua New Guinea oil and gas development over the past 26 years and who had a key role in the nation’s emergence as an LNG exporter, has decided to hand over the company helm to a successor.