Oil Search achieves record $US264.4M first-half net profit

OIL Search has posted a record total net profit of $US264.4 million (K681.44 million) for the first half of the year on the back of high oil prices and a strategic sell-off of assets to position the company for the benefits of the upcoming $US11 billion PNG LNG project.

Oil Search achieves record $US264.4M first-half net profit Oil Search achieves record $US264.4M first-half net profit Oil Search achieves record $US264.4M first-half net profit Oil Search achieves record $US264.4M first-half net profit Oil Search achieves record $US264.4M first-half net profit

Normal operations of PNG's leading oil producer yielded $US133.3 million for the period, which is 184% higher than last year's first half results of $US46.9 million.

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