Oil Search

What Oil Search does

Oil Search Limited is an oil and gas exploration and development company founded in 1929 and headquartered in Port Moresby, Papua New Guinea, historically publicly listed on the ASX under ticker OSH. The company operates upstream hydrocarbon assets, with its core Papua New Guinea business historically anchored in LNG and crude oil production, and more recently has participated in the Savant Alaska joint venture on Alaska's eastern North Slope alongside Lagniappe Alaska and APA Corporation (operator).

The Alaska-focused operations span approximately 104,000 gross acres of exploration acreage and include the Badami processing facility (40,000 bpd capacity) and the Nutaaq Pipeline (80,000 bpd capacity), which connects into the Trans-Alaska Pipeline System for offtake. Current Alaska production is approximately 1,500 barrels of oil per day, with a two-well appraisal and exploration drilling program planned for the 2026-2027 winter season under APA's operatorship.

The company generates revenue through the sale of crude oil and natural gas produced from its operated and joint-ventured assets, with pricing tied to global commodity benchmarks rather than disclosed customer-specific contracts. In 2021 the company raised $275 million in funding led by Mubadala. The oilsearch.com domain currently redirects to santos.com, indicating that Oil Search has been absorbed into Santos, the Australian energy major, and no longer operates as a fully independent reporting entity.

Name

Oil Search

Website

https://oilsearch.com

Company type

Private

Founded year

1929

Headcount range

1,001–5,000 employees

Short description

Oil Search is a Papua New Guinea-headquartered oil and gas exploration and production company, founded in 1929 and publicly listed on the ASX, now absorbed into Santos. It produces crude oil and natural gas from PNG operations and participates in the Savant Alaska joint venture on Alaska's North Slope.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112), Natural Gas Extraction (21113), Support Activities for Oil and Gas Operations (213112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Drilling & Well Construction (E&P Operator-led) (EUALAAAD)

akta.pro secondary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Oil exploration
• Gas production
• Upstream operations
• Energy development
• Hydrocarbon extraction

Headquarters

HQ city

Port Moresby

HQ country

Papua New Guinea

HQ region

Oceania

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Core offering

Oil Search Limited is an oil and gas exploration and development company engaged in upstream hydrocarbon activities, including exploration acreage holdings, production facility operations, and pipeline infrastructure on Alaska's eastern North Slope as part of the Savant Alaska joint venture. The company produces crude oil and natural gas from its operated and non-operated assets.

Product overview

No product or service information is available in the provided sources. Oil Search (Alaska) is referenced as a partner in a joint venture related to Alaska's eastern North Slope operations, but no specific products, platforms, or services are described.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production
• Alaska North Slope Exploration Acreage
• Badami Production Facility Access
• Nutaaq Pipeline Capacity

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Lagniappe AlaskacoreStrategic or Co-development PartnerLagniappe Alaska is a joint venture partner in the Savant Alaska assets on Alaska's eastern North Slope. The partnership includes approximately 104,000 gross acres of exploration acreage, the Badami facility with 40,000 bpd capacity, and the Nutaaq Pipeline with 80,000 bpd capacity. APA has assumed operatorship of the existing joint venture with Lagniappe Alaska and Oil Search (Alaska).
• APA CorporationcoreStrategic or Co-development PartnerAPA Corporation is the operator of the Savant Alaska joint venture after acquiring the assets. APA has assumed operatorship from the existing joint venture with partners Lagniappe Alaska and Oil Search (Alaska). APA plans to conduct a two-well drilling program during the 2026-2027 winter season to appraise and explore the acreage.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• ConocoPhillips Alaska: ConocoPhillips is the largest acreage holder and producer on Alaska's North Slope and operates the Trans-Alaska Pipeline System. It is a direct peer to Oil Search's Alaska position in the same basin, with the same infrastructure access (Badami-area fields are adjacent to ConocoPhillips' Greater Prudhoe Bay/Milne Point operations).
• APA Corporation: APA is the operator of the Savant Alaska JV alongside Oil Search (Alaska) and Lagniappe Alaska. APA operates upstream oil and gas assets including on Alaska's North Slope and is a direct peer in the same JV structure and basin, sharing drilling programs, infrastructure access, and capital allocation dynamics with Oil Search.
• Santos Limited: Santos is the Australian E&P company that acquired Oil Search (per the corporate website redirect) and is the natural direct peer and parent. Both operate upstream oil and gas assets in Papua New Guinea and Australia, with overlapping PNG LNG exposure, comparable production portfolios, and similar basin exposure.

Broad incumbents

• BP plc: BP is a global supermajor with material Alaska upstream exposure (legacy BP Alaska, now part of Hilcorp transactions) and significant LNG/international portfolio. It is a broad incumbent peer in the same global upstream category as Oil Search, with overlapping LNG exposure and supermajor operating capabilities.
• TotalEnergies SE: TotalEnergies is a partner in PNG LNG alongside Oil Search and ExxonMobil, with material upstream exposure in Papua New Guinea. As a global supermajor with comparable PNG and LNG portfolio characteristics, it is a broad incumbent peer in the same operating geographies and product categories.
• Origin Energy: Origin Energy is an ASX-listed Australian energy company with integrated upstream and LNG interests (including Australia Pacific LNG). It is a broad incumbent peer to Oil Search in the same listed Australian E&P universe with comparable Pacific LNG, upstream development, and partnership structures.
• Woodside Energy Group: Woodside is an Australian-listed global upstream E&P with major LNG exposure (Browse, Pluto, Scarborough, plus the 2022 BHP Petroleum merger). It is a broad incumbent peer in the same ASX-listed E&P category with comparable LNG, offshore, and operator-led development characteristics to Oil Search's portfolio.
• ExxonMobil PNG: ExxonMobil is the operator of PNG LNG, the major LNG project adjacent to Oil Search's Papua New Guinea acreage. It is the dominant upstream operator in PNG and the natural benchmark for any PNG-focused E&P, with comparable subsurface, infrastructure, and counterparty dynamics.

Regional players

• Hilcorp Energy: Hilcorp is the largest private operator on Alaska's North Slope, with a track record of acquiring and redeveloping mature fields in the same basin as Oil Search's Alaska JV. It is a regional peer with directly comparable North Slope operating footprint and infrastructure relationships (including TAPS-connected production).

Emerging players

• Jadestone Energy: Jadestone is a smaller, Asia-Pacific-focused upstream E&P operator with assets in Australia and Southeast Asia. It is an emerging-player peer in the same regional E&P category as Oil Search's Australian/PNG portfolio, with comparable size, asset mix, and growth-oriented operator profile.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/OilSearchLtd
• LinkedInlinkedin.com/company/oil-search-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oil Search