Oil Search has reported a 10 per cent decline in quarterly revenue on the back of a sharp fall in oil and gas prices, despite an increase in total production.
Total revenue for the three months to December fell to $US342.9 million ($A488.98 million), down 10 per cent from the September quarter, as the average realised oil and condensate price dropped 14 per cent.
The Papua New Guinea-focused company said total quarterly production was 7.51 million barrels of oil equivalent (mmboe), up from 7.42 mmboe in the September quarter.
Oil Search said it expects to produce between 27.5 to 29.5 mmboe in the 2016 full year.
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