Oil Search receives shareholder approval for buyout by Santos

Published by Nicholas Woodroof, Editor
Oilfield Technology, Tuesday, 07 December 2021 10:00

As reported by Reuters, Papua New Guinea (PNG)-focussed Oil Search Ltd said on Tuesday its AUS$8.8 billion (US$6.21 billion) buyout by Santos received overwhelming support from its shareholders, getting over 95% votes in favour of the deal.

The deal would create a global top 20 oil and gas company and make Santos the largest shareholder in PNG's biggest resource project, the PNG LNG project, run by ExxonMobil.

The buyout still needs approval from PNG's competition watchdog and national court. If all approvals are received, the deal will take effect Friday, which will be the last day of trading in Oil Search shares in Australia and PNG, the company said.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/07122021/oil-search-receives-shareholder-approval-for-buyout-by-santos/

DNV proposes revised risk management framework for UK offshore renewables industry, built on oil and gas best practice

Friday 31 October 2025 09:00

DNV has released a comprehensive study comparing major accident risks and risk management practices in the UK between the offshore oil and gas and the offshore renewables industries.

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