Oil Search's Botten Says 2017 Results Driven by Record Production

The video discusses the LNG expansion plans of Papua New Guinea Oil Search, highlighting the company's strong financial and operational position due to record production and increased oil and gas prices. The Managing Director, Peter Button, elaborates on the cooperation with Exxon Mobil and Totale for further LNG expansion, including the development of new LNG trains. The video also covers market dynamics, emphasizing strong LNG demand and the need for balanced supply and demand to maintain stable prices. The discussion concludes with insights into the volatile nature of the oil and gas market.

What factors contributed to the strong financial position of the PNG LNG project?

• New technology implementation

• Increased gas and oil prices

• Government subsidies

• Decreased production costs

Which companies are involved in the cooperation for further LNG expansion?

• BP and Shell

• Exxon Mobil and Total

• Chevron and ConocoPhillips

• Gazprom and Rosneft

What is the expected outcome of the cooperation with Exxon Mobil and Total?

• Development of new oil fields

• Construction of new LNG trains

• Reduction in LNG production

• Increase in oil prices

What is the current trend in the global LNG market?

• Increasing production costs

• Decreasing demand

• Oversupply turning to balance

• Stable supply

Why is it important to balance long-term LNG pricing with supply and demand?

• To prevent market volatility

• To increase production

• To ensure high profits

• To reduce competition