Event non-ATF Mobile

Oil Search Limited (ASX: OSH) referring to an announcement made by the Prime Minister of Papua New Guinea (PNG) on 31 January 2020 informed that the negotiations related to the P’nyang Gas Agreement have stopped at this stage to enable the Government to focus on developments already in the pipeline.

There were series of negotiations pertaining to the terms of the P’nyang Gas Agreement that took place over the past 7 months. As per the terms proposed by the State, the joint venture partners could not obtain a return on their investment that made the project investable & bankable.

OSH shall continue to have a word with the State on the P’nyang field & shall seek to attain the proper balance of risk & reward for all stakeholders in any future development and would now focus on the development of the Papua LNG Project.

 

 

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