Oil Search Limited (ASX:OSH) has posted a 26 per cent rise in full year revenue, generating $US732.9 million in the 2011 calendar and financial year.
The oil and gas producer’s result was driven by a 45 per cent rise in realised oil prices.
Over the year Oil Search’s production fell 13 per cent to 6.69 million barrels of oil equivalent, within its guidance range of up to 6.7 million barrels of oil equivalent.
Managing director Peter Botten has described the company’s performance as pleasing, given the maturity of its oil fields in Papua New Guinea and a two-week planned facilities shutdown in the third quarter.
The company financial results will be released to the market on February 21, 2012.
In the first half of its 2011 financial year Oil Search reported a net profit of $106.6 million
