News: OSH Oil Search Posts FY Total Revenue Of US$1,074.2 Mln

Feb 23 (Reuters) - Oil Search Ltd (OSH) :

• FY TOTAL REVENUE US$ 1,074.2 MILLION VERSUS US$1,584.8 MILLION
• DECLARED FINAL DIVIDEND OF 0.5 US CENTS PER SHARE
• FY NET LOSS AFTER TAX US$320.7 MILLION VERSUS PROFIT OF US$312.4 MILLION
• FY CORE NET PROFIT AFTER TAX US$22.0 MILLION VERSUS US$320.9 MILLION
• UNIT PRODUCTION COSTS FOR 2021 EXPECTED TO BE HIGHER THAN 2020
• LOCKED IN FLOOR PRICE OF US$55 PER BARREL COVERING NINE MILLION BARRELS OF OIL EQUIVALENT PRODUCTION OVER PERIOD FROM MAY TO DEC 2021
• WILL CONTINUE TO CONSIDER MERITS OF LONGER-TERM HEDGING STRATEGY AS WE APPROACH INVESTMENT DECISIONS FOR MAJOR GROWTH PROJECTS
• PAPUA LNG JV OFFERED SECOND FIVE-YEAR EXTENSION OF PETROLEUM RETENTION LICENCE TO PROGRESS PROJECT TO FINAL INVESTMENT DECISION
• WELL POSITIONED TO MANAGE THROUGH PERIODS OF UNCERTAINTY AND DELIVER PROJECTS IN 2021 AND BEYOND
• EXPECT PRE-FEED ACTIVITIES FOR PAPUA LNG TO START IN 2021, TARGETING FEED ENTRY IN 2022