Oil Search still seeing a brighter future in oil and gas


OIL Search is expecting more exploration breakthrough in oil and gas resources in the country next year, an official says.
Oil Search chief of Geoscience and Exploration Excellence John Warburton told the PNG Mining and Petroleum last week in Port Moresby that Oil Search was well positioned with proactive long-term strategy in the country.
He said the company’s holistic 4D modelling continued to identify new prospects in the country.
“We expect more exploration breakthroughs as we continue to leverage technology in 2018,” he said.
“Oil Search will continue to implement its very clear strategy in PNG. Oil Search is well positioned for the future.
“We also believe that a significant strength in Oil Search is the database we’ve got. It’s world-class.
“It allows us to look at data from areas that we’ve traditionally looked at.”
He said Oil Search believed that about 60 per cent of the country was still uncovered with the majority of that being gas.
Managing director Peter Botten previously told The National that so far, only 40 per cent of the oil and gas resources had been tapped into.