The Australia Day honour recognises his commitment to building strong corporate-community relationships through his involvement organisations like the Hela Provincial Health Authority and the National Football Stadium, and being the founder of the Oil Search Foundation.
Botten said: "I firmly believe that companies cannot operate in isolation from society if they are to generate goodwill, maintain a moral compass and create shared value between community and business".
As chairman of the Foundation, he led initiatives in HIV/AIDS management, disease control, child and maternal health, family and sexual violence, gender equality and literacy.
Chairman Rick Lee praised Botten's leadership and business acumen, and placing positive social outcomes at the forefront of the company's strategy and operations.
"Peter has fostered a culture within Oil Search that focuses on doing the right thing - not just for shareholders but for all stakeholders, especially local communities in PNG," he said.
"His passion and personal commitment to delivering such change exceeds, by most measures, what is expected of the role (and) promoted deep relationships between PNG and Australia by championing initiatives that have built trust and understanding in both countries."