According to Energy Current newswires the company's new play, the Cobra prospect, is located within the Papuan Fold Belt and has an upside recoverable potential of 75 million barrels.

The prospect is said to be close to production infrastructure, and Oil Search is moving to offer up to 20% of its 62.556% equity in the license.

The company has not made an official announcement.

Meanwhile former mining minister Sam Akoitai has been appointed to help organise pre-forum talks between state, developer and landowners of the NW Moran oil project, the Post Courier reported.

Earlier in the week, Akoitai said he would ask Oil Search, operator of the project, to table the social mapping and landowner identification studies.

Oil Search previously said it had submitted the studies to the Department of Petroleum and Energy, and had been endorsed by private consultants hired by the department.

The pre-forum talks will decide on a date to hold the Moran development forum.

Chairman of the Pai Parapia Resources Owners Association, Edward Alina, told PC that he had advised Oil Search his association would not attend the development forum if it was staged in Port Moresby.

Alina is calling for the forum to be held at either Moro or anywhere outside of Port Moresby, because of the tendency for "so-called" landowners to take advantage of their leaders to disrupt meetings.