Nov 19 (Reuters) - Australia-listed Oil Search Ltd (OSH) said...

Nov 19 (Reuters) - Australia-listed Oil Search Ltd (OSH) said on Thursday it plans to launch a formal process for sale of its 15% stake in the Pikka project and other key Alaskan assets in the first quarter of 2021.

The planned divestment will align with entry into front-end engineering and design works for Pikka Phase 1 project in early 2021, with final investment decision targeted later in the year.

The initial project cost is expected to be less than $3 billion and produce oil at a breakeven cost of supply of less than $40 per barrel, Oil Search said.