Oil Search expected to make Porgera decision next week

PAPUAN New Guinea companies Mineral Resources Development and Mineral Resources Enga are believed to be among the frontrunners to acquire Oil Search's 20% stake in the rich but depleting Porgera mine in the PNG highlands.

Oil Search expected to make Porgera decision next week Oil Search expected to make Porgera decision next week Oil Search expected to make Porgera decision next week Oil Search expected to make Porgera decision next week Oil Search expected to make Porgera decision next week

The two companies are understood to be offering around $120 million and to be backed by an international banking syndicate.

A decision by Oil Search is expected early next week.

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