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ASX Announcement
PRL 15 participants vote to appoint Total as operator
2 March 2015
Oil Search advises that, following the transfer of rights in the PRL 15 Joint Venture Operating Agreement and license from InterOil to Total, all participants in PRL 15 have unanimously voted to appoint Total E&P PNG Limited as Operator of the PRL 15 Joint Venture.
The appointment will take effect in accordance with an operator transition plan and the terms of the Joint
Venture Operating Agreement and is subject to all necessary PNG Government approvals. Commenting on the move, Peter Botten, Oil Search's Managing Director, said:
"We are pleased that the rights to hold a 40.1% interest in PRL 15 have now being successfully transferred from InterOil to Total. The election of Total, a world leader in the global LNG industry, as operator of PRL 15 will help facilitate the completion of appraisal and the timely development of the world class Elk/Antelope fields."
PETER BOTTEN, CBE Managing Director, Oil Search
For further information please contact:
Ms Ann Diamant
Group Manager, Investor Relations
Tel: +61 2 8207 8440
Mob: +61 407 483 128
Oil Search Limited
Incorporated in Papua New Guinea ARBN 055 079 868
Head office Port Moresby Papua New Guinea
Sydney office
1 Bligh Street
Sydney NSW 2000
Australia
Mailing address
GPO Box 2442
Sydney NSW 2001
Australia
Tel: +61 2 8207 8400
Fax: +61 2 8207 8500 www.oilsearch.com
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Oil Search Limited
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CODE : OSH.AX |
ISIN : PG0008579883 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Oil Search is a and oil producing company based in Australia. Oil Search holds various exploration projects in Iraqi, in Papua New Guinea and in Yemen. Its main exploration properties are SHAKAL-1 in Iraqi, WASUMA-1 in Papua New Guinea and AL MEASHAR-1 in Yemen. Oil Search is listed in Australia, in Germany and in United States of America. Its market capitalisation is AU$ 6.2 billions as of today (US$ 4.4 billions, € 3.9 billions). Its stock quote reached its highest recent level on June 20, 2014 at AU$ 9.47, and its lowest recent point on March 20, 2020 at AU$ 2.01. Oil Search has 1 522 689 920 shares outstanding. |