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Oil Search Q3 revenue up 16%

AAP logoAAP 17/10/2016

Oil Search has posted a 16 per cent increase in quarterly revenue on the back of an increase in LNG and gas prices and higher production from the PNG liquefied natural gas project.

The oil and gas producer has reported total revenue of $US309.5 million ($A405.7 million) for the three months to September 30, up from $US267.7 in the June quarter.

The Papua New Guinea-focused company said total quarterly production was up six per cent at 7.63 million barrels of oil equivalent (mmboe), while sales volume rose four per cent to 7.49 mmboe.

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