Update On Oil Search Limited

  • Nov 16, 2018 AEDT
  • Team Kalkine
Update On Oil Search Limited

The Papua LNG joint venture participants have entered into a Memorandum of Understanding, with the Independent State of Papua New Guinea for the development of the Papua LNG Project as announced by Oil Search.

In early 2018 on the preferred downstream concept for the next phase of LNG development in PNG, the agreement follows the Papua LNG and PNG LNG joint venture parties reaching broad alignment. This comprises the construction of three 2.7 MTPA LNG trains all located on the existing PNG LNG Project plant site producing approximately 8 MTPA. From the existing PNG LNG fields and the P’nyang field while one train is underpinned by gas two trains will be supplied with gas from the Elk-Antelope fields. 

Key terms and conditions for the framework to be included within the Gas Agreement which the Papua LNG MoU provides, with a Gas Agreement expected to be signed no later than 31 March 2019 including tax rates and DMO (Domestic Market Obligation) as well as a timeline for the finalization of negotiations. The MoU for the Papua LNG Project marks a significant milestone, Oil Search’s Managing Director Peter Botten commented on MOU.

The integration of the Papua LNG and P’nyang developments, the commercial agreements including those related to site and facility access that support material progress has been made with the PNG LNG project.

The three-train development concept are well underway for the Pre-FEED downstream studies. Work taking place includes compressor driver selection, the brownfield tie-ins, LNG loading and shipping, storage and loading, condensate treatment and execution planning. The State Negotiating Team and the P’nyang joint venture are having discussions and are well advanced.

The stock of Oil Search Limited (ASX: OSH) traded lower at $7.510 and has seen a performance change of 5.88% over the period of 12 months. The market capitalization of the stock is $11.52 billion as at November 16, 2018. The annual dividend yield of the stock stands at 1.3%.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK