Committed to drilling

 OIL Search Ltd says it will commit to the drilling phase of the PPL 339 license area in Gulf under the terms of the existing agreement with Kina Petroleum Ltd (KPL). 

Pursuant to the agreement, Oil Search will commit to drill a well in return for acquisition of a 70 per cent participating interest in, and the operatorship of the licence while KPL will participate with a 30 per cent interest.