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/

Balmoral Group completes sale of Comtec to Freudenberg Flow Technologies

Thursday 21 May 2026 11:45

Following the completion of the deal, Comtec will continue to operate as usual from its existing locations, with no immediate changes to its name, day-to-day activity, customer contracts, delivery schedules, staffing levels or points of contact.

Embed article link: (copy the HTML code below):

This article has been tagged under the following:

Upstream news Oil & gas news

Oilfield Technology is not responsible for the content of external internet sites.

You might also like