OSH Oil Search Limited

   By Robb M. Stewart 
 

Papua New Guinea's big gas-export facilities are being shut down so that Exxon Mobil Corp. (XOM) and partner Oil Search Ltd. (OSH.AU) can assess any damage following an earthquake early Monday.

Oil Search in a statement said all personnel had been accounted for and there had been no reports of injuries.

As a precautionary measure, the oil-and-gas producer said its operations in the Papua New Guinea Highlands region were in the process of being shut down. Exxon had already shut down the PNG LNG facility at Hides.

At 03:44 local time, a magnitude 7.5 earthquake struck the Highlands, which was followed by a series of aftershocks, Oil Search said.

Oil Search, based in the Papua New Guinea capital of Port Moresby and listed in Australia, has a 29% stake in the Exxon-led PNG LNG liquefied natural gas project. It also operates each of Papua New Guinea's producing oil fields.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 25, 2018 18:11 ET (23:11 GMT)

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