Oil Search

Oil Search Limited (ASX: OSH) is the largest oil and gas exploration and development company incorporated in Papua New Guinea, which operates all of Papua New Guinea's oilfields. Founded in 1929, it is now one of Papua New Guinea's largest companies, and in 2006 was responsible for 13% of Papua New Guinea's gross domestic product.[1] It is publicly listed on the Port Moresby and Australian Stock Exchanges,[1] and is included in the S&P/ASX 50. It has a market capitalization of around US$12 billion.[2] A 17.6% interest in the company is held by the government of Papua New Guinea,[1] and for 2006 gave the state PGK24 million (US$8 million) as its dividend.[3] The company also operates areas in Yemen, Egypt, Libya, and the Kurdistan region of Iraq.[1][2] In May 2014, Exxon Mobil Corporation shipped the first cargo of liquefied natural gas (LNG) from the US$19 billion PNG LNG Project, in which Oil Search owns a 29% interest.[4]

Oil Search logo

Oil Search was listed on the Dow Jones Sustainability Index Australia for the first time in 2013. According to the Company's 2013 Sustainability Report, the company invested US$8.2 million in community development.[5]

References
  1. Profile at official site
  2. http://www.oilsearch.com/Investor-Centre/ASX-Releases.html
  3. PNG Oil Company Pas State $8 Million Dividend Archived 14 May 2007 at the Wayback Machine from the Papua New Guinea Post-Courier
  4. http://www.lngindustry.com/news/liquefaction/articles/First_cargo_from_PNG_LNG_655.aspx#.U84_V4BdXGJ
  5. http://www.oilsearch.com/Investor-Centre/ASX-Releases/Sustainability-Reports.html


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