Oil Search keen to drill in Gulf of Papua

Oil Search is stepping up its exploration activity in the Gulf of Papua, recently completing the first stage of an offshore 3D seismic survey.

Offshore staff

PORT MORESBY, Papua New Guinea -- Oil Search is stepping up its exploration activity in the Gulf of Papua, recently completing the first stage of an offshore 3D seismic survey.

It is processing and interpreting the data in an attempt to de-risk future drilling prospects.

In April, Oil Search raised its interest in Papua New Guinea offshore license PRL 1, containing the Pandora gas field, from 17.7% to 24.1%.

During May it acquired a further 35% in offshore license PPL 244, including the Flinders prospect, via an equity swap with Talisman Energy.

Oil Search has assumed operatorship of the license and plans to drill a well on Flinders next year, subject to analysis of the new 3D data.


08/06/2010

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