Oil Search to provide revised guidance in 1Q18 results

Company News

by Anna Napoli

Oil and gas company, Oil Search(ASX:OSH) has presented to investors following the closure of its LNG project facilities in Papua New Guinea.

A magnitude 7.5 earthquake struck the PNG highlands on the 25th of February forcing the closure of the company’s LNG project facilities IN THE Southern Highlands.

The business has formed an engineering team to review Oil Search operated wells and other infrastructure.

Oil Search says the pipeline is undamaged, but there is some damage to the Hides Gas Conditioning Plant.

The company says they will provide a revised guidance for 2018 in their first quarter results.

Shares in Oil Search (ASX:OSH) closed 0.99 per cent higher at $7.15 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.