OISHF - Oil Search looks to sell piece of Alaskan assets in early 2021

Oil Search (OISHF) says it plans to launch a formal process to sell 15% of its stake in the Pikka project and other key Alaskan assets during Q1 2021.The company expects to make a final investment decision on Pikka in late 2021, with the aim of starting production in 2025.Oil Search and joint venture partner Repsol ([[REPYF]], [[REPYY]]) estimate Pikka's initial project cost at less than $3B, with oil production at a breakeven cost of supply below $40/bbl.Oil Search also reports a 33% increase in total gross contingent oil resources for its Alaskan North Slope portfolio to 968M barrels, following the completion of technical studies.The company also says it is targeting a 40% decrease in its operating expenses for Papua New Guinea by 2023.Oil Search is a partner in the Total-led Papua LNG project, which last week cleared its final hurdle in parliament, although it has been delayed since Prime

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Oil Search looks to sell piece of Alaskan assets in early 2021