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Oil Search Profile

Established in Papua New Guinea (PNG) in 1929

Operates all of PNG’s producing oil and gas fields. Current gross production ~40,000 boepd, net share ~21,000 boepd

Proven reserves base of 344 mmboe, proven and probable of 567 mmboe plus 281 mmboe in the 2C resource category still to be commercialised

PNG Government is largest shareholder with 15%. In early 2009, Govt issued exchangeable bond over shares to IPIC of Abu Dhabi

29% interest in PNG LNG Project, world scale LNG project operated by ExxonMobil. Project in construction, first LNG sales expected 2014

Exploration interests in PNG and Middle East/North Africa

Market capitalisation ~US$6 billion. Listed on ASX (Share Code OSH) and POMSOX, plus ADR programme (Share Code OISHY)

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