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Oil Search revises capex over PNG LNG delays

OIL Search’s quarterly finds its revising down capital expenditure guidance as delays to the PNG LNG expansion and entry to front-end engineering and design loom after the recent political upheaval in Papua New Guinea.

Oil Search managing director Peter Botten.

Oil Search managing director Peter Botten.

Its new lowered capex guidance is between US$500-$610 million, down from $545-$655 million. "Oil Search is working closely with the new government to ensure that the development of additional LNG...

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