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Oil Search Q4 revenue jumps on strong PNG LNG output

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LNG Industry,

Reuters are reporting that Papua New Guinea-focused Oil Search Ltd reported a 12.6% rise in Q4 revenue on 23 January, supported by strong output from the PNG LNG project and improving oil prices.

Revenue for the three months ended 31 December rose to US$389 million from US$345.6 million in the year-ago quarter, in line with analysts’ estimate of US$390 million.

The company said it expects 2018 full-year production to be in the range of 28.5 million to 30.5 million boe, while 2017 production was 30.31 million boe.

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