Oil Search Share Placement Completed

Oil Search said that the placement of 149,390,244 fully paid ordinary shares to the Independent State of Papua New Guinea has been completed today.

As previously reported, the completion of the relevant PAC LNG companies holding a 22.83% gross interest in PRL15, containing the Elk/Antelope gas discoveries, is scheduled to complete later this week.

Peter Botten, Managing Director of Oil Search said: “We welcome the continuation of the Government shareholding in Oil Search, underscoring our alignment with the State through the next phase of oil and gas development in Papua New Guinea.

LNG World News Staff, March 12, 2014; Image: Oil Search

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