Oil Search's quarterly revenue has dropped nine per cent on the back of a sharp fall in oil and gas prices, even after it increased total production.
Total revenue for the three months to March 31 fell to $US313.1 million ($A404.3 million), compared to $US342.9 million in the December quarter, as the average realised oil and condensate price dropped 19 per cent.
The Papua New Guinea-focused company said total quarterly production was 7.72 million barrels of oil equivalent (mmboe), up from 7.51 mmboe in the December quarter.
Oil Search said a short partial shutdown at the PNG liquefied natural gas plant in April will have a minor impact on second quarter output, but has maintained its full year guidance from the plant between 7.5 and 7.9 million tonnes per annum.
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