Oil Search gains prospective PNG gas acreage

Oil Search has agreed farm-in terms in two new exploration licences offshore Papua New Guinea.

Offshore staff

PORT MORESBY, Papua New Guinea -- Oil Search has agreed farm-in terms in two new exploration licences offshore Papua New Guinea. PPL 276 is in the Gulf of Papua west of Pandora and Pasca gas fields. PPL 312 is in the northern Gulf of Papua, east of Uramu gas field.

The farm-in arrangements are subject to Ministerial approval.

Oil Search says the acquisitions are in line with its strategy to optimize its license holdings with potential gas accumulations that could support commercialization.

11/16/2001

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