Oil Search’s resilience helps overcome challenges

  • Nov 20, 2020
  • The National

OIL Search Ltd has responded to a challenging backdrop in 2020 by enhancing its resilience through sustained cost improvements and a focus on commercialising growth.

Managing director Keiran Wulff in its investor briefing yesterday said: “We have a clear hierarchy for allocating capital, prioritising sustaining capital and a strong, flexible balance sheet.

“We have stress tested our portfolio, instilled a disciplined approach to investment decisions and are well progressed in pursuing multiple options to ensure funding readiness for delivering Pikka (Alaska) and Papua LNG.”

He said the challenges posed by the Covid-19 pandemic, oil price downturn, and with global tr