Sept 30 (Reuters) - Oil Search Ltd (OSH) :
- REACHED A COMMERCIAL AGREEMENT WITH ITS JV PARTNERS IN PNG LNG PROJECT REGARDING REDETERMINATION OF PARTICIPATING INTERESTS
- PARTIES HAVE AGREED THAT CURRENT REDETERMINATION PROCESS, INITIATED IN DECEMBER 2020, WILL BE DISCONTINUED
- ALL FUTURE REDETERMINATIONS PROVIDED FOR UNDER PNG LNG COORDINATED DEVELOPMENT AND OPERATING AGREEMENT WILL BE CANCELLED
- AS PART OF AGREEMENT, CO WILL BE ENTITLED TO A CARRIED INTEREST OF US$176 MILLION FROM CERTAIN NON-PNG STATE JV PARTNERS
- NO ADJUSTMENT WILL BE MADE TO PARTICIPATING INTERESTS IN PNG LNG PROJECT
