Oil Search to push three train LNG plans in PNG

OIL Search has backtracked on its plans to focus on a slimmed down, two-train Papua LNG expansion, suggesting the integrated thee train, PNG LNG and Papua LNG project is the only way forward in an earnings call this morning after its annual report, which showed annual net profit down 8%.

Oil Search to push three train LNG plans in PNG Oil Search to push three train LNG plans in PNG Oil Search to push three train LNG plans in PNG Oil Search to push three train LNG plans in PNG Oil Search to push three train LNG plans in PNG

Profit down but new MD Wulff backtracks on Papua LNG standalone plans

It said net profit after tax was US$312 million, down from $341.2 million the previous year though revenue was up 3% to $1.58 billion. Both LNG and oil prices were down over the period.