Oil Search Ltd., Sydney and Port Moresby, reported a rise in its oil, condensate, and natural gas reserves and resources. Managing Director Peter Botten said in a statement released Feb. 17 that as of Dec. 31, 2016, the company’s proved reserves (1P) stood at 62.3 million bbl of oil and condensate and 2,151 bcf of gas. The company’s 2P reserves were 75.7 million bbl of oil and condensate and 2,425 bcf of gas.

Source: News