# Oil Search

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{{About|the company|the method of finding oil and natural gases|Oil exploration}}
{{Use dmy dates|date=March 2025}}
{{bots|deny=Citation bot}}
{{Infobox company
|name                = 
|type                = [Dual listed](/source/Dual_listed_company)
|traded_as           = {{ASX|OSH}}
|logo                = Oil Search logo.svg
|former_name         = 
|industry            = [Petroleum](/source/Petroleum_industry)
|founded             = 1929
|founder             = 
|defunct             = December 2021
|hq_location_city    = [Port Moresby](/source/Port_Moresby)
|hq_location_country = Papua New Guinea
|area_served         = 
|key_people          = Richard Lee ([Chairman](/source/Chairman))<br>Kieran Wulff ([Managing Director](/source/Managing_Director))
|services            = [Oil & gas exploration](/source/Hydrocarbon_exploration)
|revenue             = [US$](/source/US_dollar) 1.1 billion
|revenue_year        = 2020
|operating_income    = ([US$](/source/US_dollar) 175 million)
|income_year         = 2020
|net_income          = ([US$](/source/US_dollar) 321 million)
|net_income_year     = 2020
|num_employees       = 
|divisions           = 
|subsidiaries        = 
|website             = [https://web.archive.org/web/20211129090146/https://www.oilsearch.com/ www.oilsearch.com]
}}

'''Oil Search''' was the largest oil and gas exploration and development company incorporated in [Papua New Guinea](/source/Papua_New_Guinea), which operated all of the country's [oilfield](/source/oilfield)s. In December 2021, it merged with [Santos](/source/Santos_(company)).

==History==
Oil Search was incorporated in [Port Moresby](/source/Port_Moresby) on 17 January 1929.<ref>[https://www.oilsearch.com/about-us/history History]Oil Search {{Webarchive|url=https://web.archive.org/web/20210912073933/https://www.oilsearch.com/about-us/history |date=12 September 2021 }}</ref> It was one of [Papua New Guinea](/source/Papua_New_Guinea)'s largest companies, and in 2006 was responsible for 13% of Papua New Guinea's gross domestic product.<ref name=Profile>[http://www.oilsearch.com/About-Us/Company-Profile.html Profile] at official site</ref> It was publicly listed on the [Port Moresby Stock Exchange](/source/Port_Moresby_Stock_Exchange) and [Australian Securities Exchange](/source/Australian_Securities_Exchange).<ref name=Profile/> It had a market capitalization of around US$12&nbsp;billion.

A 17.6% interest in the company was held by the [Government of Papua New Guinea](/source/Government_of_Papua_New_Guinea),<ref name=Profile/> The company also operates areas in Yemen, Egypt, Libya, and the [Kurdistan region of Iraq](/source/Kurdistan_region_of_Iraq).<ref name=Profile/> In May 2014, [ExxonMobil](/source/ExxonMobil) shipped the first cargo of [liquefied natural gas](/source/liquefied_natural_gas) (LNG) from the US$19&nbsp;billion PNG LNG Project, in which Oil Search owns a 29% interest.<ref>{{cite web |url=http://www.lngindustry.com/news/liquefaction/articles/First_cargo_from_PNG_LNG_655.aspx#.U84_V4BdXGJ |title=LNG news – First cargo from PNG LNG |website=lngindustry.com |url-status=dead |archive-url=https://web.archive.org/web/20140727033939/http://www.lngindustry.com/news/liquefaction/articles/First_cargo_from_PNG_LNG_655.aspx |archive-date=2014-07-27}}</ref>

In 2021, Oil Search agreed terms with [Santos](/source/Santos_(company)) to merge,<ref>{{Cite news |last=Freed |first=Jamie |date=2021-08-02 |title=Oil Search, Santos close to deal to create top 20 global oil firm |url=https://www.reuters.com/business/energy/australias-santos-hikes-bid-oil-search-690-bln-2021-08-01/ |access-date=2024-12-12 |agency=Reuters|language=en}}</ref><ref>{{Cite news |date=2021-08-01 |title=Oil Search, Santos to Merge Into $16 Billion LNG Powerhouse |url=https://www.bloomberg.com/news/articles/2021-08-01/santos-sweetens-oil-search-takeover-offer-to-seal-board-support |access-date=2024-12-12 |publisher=[Bloomberg News](/source/Bloomberg_News)|language=en}}</ref> with Oil Search shareholders taking a 38.5% shareholding in Santos.<ref>[https://www.asx.com.au/asxpdf/20210910/pdf/450ch30qk53l4h.pdf Santos and Oil Search combine to create a regional champion of scale with a diversified portfolio of long-life and low-cost oil and gas assets] Oil Search 10 September 2021</ref><ref>[https://www.reuters.com/business/energy/santos-oil-search-reach-agreement-merge-2021-09-10/ Santos, Oil Search agree to merge despite scrutiny in Papua New Guinea] [Reuters](/source/Reuters) 10 September 2021</ref> The merger took effect on 14 December 2021.<ref>[https://www.asx.com.au/asxpdf/20211210/pdf/454130h2bmxh1k.pdf Santos and Oil Search merger becomes effective] [Santos](/source/Santos_(company)) 10 December 2021</ref>

==References==
{{Reflist}}

Category:Companies formerly listed on the Australian Securities Exchange
Category:Energy companies established in 1929
Category:Energy companies disestablished in 2021
Category:Former dual-listed companies
Category:Mubadala Investment Company
Category:Non-renewable resource companies established in 1929
Category:Non-renewable resource companies disestablished in 2021
Category:Oil and gas companies of Papua New Guinea
Category:1929 establishments in the Territory of Papua
Category:2021 disestablishments in Australia

{{petroleum-company-stub}}

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Adapted from the Wikipedia article [Oil Search](https://en.wikipedia.org/wiki/Oil_Search) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Oil_Search?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.