Oil search maintains production guidance after shutdown

10/23/2012

Oil search maintains production guidance after shutdown

BY DAVID ROGERS

SYDNEY -- Oil Search has maintained fiscal 2012 production guidance of 6.2 to 6.7 mboe, despite a shutdown of an export facility that saw September quarter output fall 26% from the preceding quarter.

In a statement to the Australian Securities Exchange, Oil Search's Managing Director, Peter Botten, said the source of a minor oil leak wasn't found after the shutdown of the Kumul Marine Terminal.

The full integrity of the oil export system was confirmed, with no source of any leak found, Mr. Botten said in the statement. The Papua New Guinea LNG Project remained on target for first shipments in 2014, Mr. Botten added.

Dow Jones Newswires

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