![]() ![]() Oil Search is listed on the Australian (OSH) and PNG (OSH) security exchanges and its ADRs trade on the US Over the Counter market (OISHY). Oil Search also holds world class oil assets in Alaska’s prolific North Slope. The Company also hold material interests in the Elk -Antelope and P’nyang gas fields and is undertaking a range of activities to support further LNG expansion in PNG. FID is targeted for late 2021, with first oil targeted for 2025. Its 29 per cent interest in the ExxonMobil-operated PNG LNG Project has transformed Oil Search into a regionally significant oil and gas producer. Oil Search Quarterly Report to 31 March 2018 and Assignment of resource to Pikka Unit Alaska Oil Search Recommencement of PNG LNG production ahead. Oil Search has completed optimisation efforts and,subject to oil prices,the Joint Venture is preparing to proceed into FEED in early 2021 with Pikka Phase 1, based on a single drill site development with a production capacity of 80,000 bopd. ![]() “Our marine and process systems centers of excellence will safely deliver an integrated facility of more than 4,000 tonnes that meets the State of Alaska statutory and regional regulatory environmental requirements and is suitable for the harsh climate of the North Slope.”Įstablished in January 1929, Oil Search has grown into PNG’s largest single investor and most active explorer, operating all the country’s producing oil fields and holding an extensive appraisal and exploration portfolio. “We’re excited to provide our engineering, procurement, fabrication, transportation, and final commissioning expertise at the Oliktok site and to be part of the overall success of the Pikka development,” said James Clarke, Senior Vice President of VME Process. Utilizing latest technology including membranes for filtration, sulphate removal, deaeration, VME Process will progress the engineering prior to Oil Search Alaska’s final investment decision. This approval, which is a critical next step to advancing the proposed development, includes Oil Search’s. The project currently in the FEED/BASIC design phase, will include a single drill site and production facility with an initial capacity of 80,000 barrels of oil per day.Īs a part of the project, VME Process will provide an ABS classified bespoke barge for the stand-alone Seawater Treatment Plant to deliver 100,000 bpd of high quality treated injection water to support the Pikka project reservoir waterflood. Oil Search has received the United States Army Corps of Engineers (USACE) permit and Record of Decision (ROD) for the Pikka Development Project on Alaska’s North Slope, in accordance with Section 404 of the US Clean Water Act. In early 2018, Oil Search acquired and assumed operatorship over a world-class portfolio of oil leases on the Alaskan North Slope, USA. VME Process of Tyler, Texas will support Oil Search Alaska on their Pikka development project on the North Slope of Alaska. ![]()
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