Eight weeks to fix PNG LNG quake damage

Oil Search and Santos say it will take about eight weeks to repair the liquefied natural gas project in which they have stakes following the PNG earthquake.

Papua New Guinea's liquified natural gas project

Oil Search has said it will take weeks to restore production at its earthquake-damaged LNG project. (AAP)

Oil Search and Santos have said it will take about eight weeks to repair and restore production at their earthquake-damaged liquefied natural gas project in Papua New Guinea.

Oil Search on Monday said it will revise its production guidance and estimate the likely earnings hit when it can.

ASX-listed energy explorers and producers Oil Search and Santos between them own 42.5 per cent of the ExxonMobil-led PNG LNG Project.

Oil Search has committed $US5 million ($A7 million) to disaster relief following last week's magnitude-7.5 quake in the country's highlands.

Managing director Peter Botten said the company was lucky none of its staff were seriously injured.

"The impact on local communities within our operational areas has been enormous, with many deaths in the region as well as the destruction of houses, schools, roads and bridges," Mr Botten said.

"Many communities are without basic necessities, such as food, clean water, shelter and medical support."

Santos, which holds a 13.5 per cent stake to Oil Search's 29 per cent, said in a statement it will donate $US200,000 to aid agencies to provide assistance for communities hit by the quake.


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Published 5 March 2018 12:42pm
Source: AAP


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