The group now explores, develops and produces oil and gas in Papua New Guinea and Australia, not to mention Yemen, Libya, Iraq and Tunisia.
Oil Search released its fourth quarter production figures today, which showed it produced 1.64 million barrels of oil in the Q4 up 10% on Q3, but down 14% from the year earlier.
The company said that it produced 6.69 million barrels of oil in CY11 compared to 7.66 million in CY10.
However OSH said that its revenue increased to US$654.3 million in CY11 from US$517.3 million in CY10, helped in part by a rise in the average realized price for oil.
Written by: admin Other posts from: admin
Posted in ASX Top 200 XJO, ASX Top 500 All Ordinaries, Energy Shares, Financial News, Market Sectors News, S&P ASX News, Stocks Investing Advice