Oil Search Ltd has frozen all
activity in Papua New Guinea other than maintaining current
production and has put on hold early development work on its
Alaskan oil project to cope with crashing oil prices.
Oil Search Ltd on Tuesday
flagged higher spending in 2020 and said that partners in a
planned $13 billion expansion of Papua New Guinea's LNG exports
were still ready to renew discussions with the government over
Australia-listed Oil Search Ltd
on Tuesday reported a 8% fall in annual profit and missed
estimates, as the Papua New Guinea-focused company bagged lower
prices for liquefied natural gas (LNG) and oil during the year.
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