Merger • Oil/Gas Exploration

Santos Acquires Oil Search

On December 17, 2021, Santos acquired oil/gas exploration company Oil Search

Acquisition Context

This is Santos’ 7th transaction in the Oil/Gas Exploration sector.
This is Santos’ 1st transaction in Papua New Guinea.

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M&A Deal Summary
Date	December 17, 2021
Target	Oil Search
Sector	Oil/Gas Exploration
Buyer(s)	Santos
Deal Type	Merger

Target Company

Oil Search

Port Moresby, Papua New Guinea

Oil Search is an oil and gas exploration and development company. Oil Search is involved in a range of exploration and appraisal activities in PNG, primarily aimed at aggregating additional gas reserves, to underpin a potential expansion of the PNG LNG Project as well as further LNG development in PNG. Oil Search was founded in 1929 and is based in Port Moresby, Papua New Guinea.

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Buyer Overview 1

Buyer

Santos

Adelaide, Australia

Category	Company
Founded	1954
Sector	Oil/Gas Exploration
Employees	3,864
Revenue	5.4B USD (2024)

DESCRIPTION

Santos is an oil and gas producer for the domestic market and has the largest exploration and production. Santos was founded in 1954 and is based in Adelaide, Australia.

Deal Context for Buyer	#
Overall	7 of 7
Sector: Oil/Gas Exploration	7 of 7
Type: Merger	1 of 1
Country: Papua New Guinea	1 of 1
Year: 2021	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2018-08-22	Quadrant Energy Perth, Australia Quadrant Energy is an oil and gas exploration and production company. Quadrant Energy was founded in 1988 and is based in Perth, Australia.	Buy	$2.2B

DATE

TARGET

DEAL TYPE

VALUE

2018-08-22

Quadrant Energy

Perth, Australia

Quadrant Energy is an oil and gas exploration and production company. Quadrant Energy was founded in 1988 and is based in Perth, Australia.

Buy

$2.2B

Explore Related M&A Activity

Oil/Gas Exploration M&A - Merger M&A Deals - Papua New Guinea M&A - 2021 M&A