Oil Search posts solid results amid Santos merger and progress on the Papua New Guinea LNG expansion
Oil Search, the Papua New Guinea liquefied natural gas and oil player, posted impressive third-quarter results making the US$6.25-billion merger with Australian LNG plant operator Santos even more enticing as PNG LNG expansion plans also advanced.
Santos and Oil Search say US$6Bln takeover is agreed to create key Asia-Pacific LNG and energy player
Australian LNG plant operator Santos and Australian-listed energy company Oil Search have jointly announced the completion of the takeover of Oil Search by Santos in a deal worth A$8.40 billion (US$6.25 billion) to create a key Asia-Pacific LNG and energy player.
Oil Search reports revenue rise as possible higher bid awaited from Santos and PNG expansion progresses
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 change
March 4 (LNGJ) - Oil Search, the energy company with LNG and oil assets in Papua New Guinea and oil projects in the US state of Alaska, has named Peter Fredricson as its new Chief Financial Officer to replace Stephen Gardiner, who is stepping down after eight years. Gardiner will continue to assist Oil Search as an adviser to the Managing Director Keiran Wulff. The Australian-listed and PNG-based company said that CFO Fredricson had over 30 years of experience in the infrastructure and banking sectors in Australia, New Zealand and Asia.
“We are fortunate to welcome Peter to Oil Search,” said Wulff. “His deep experience in finance, equity and debt capital markets and the financial services sector generally will be valuable to Oil Search as the company focuses on delivering its strategic objectives,” he added.
