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M&A Deal Summary

Santos Acquires Oil Search

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

Acquisition Highlights
  • This is Santos’ 6th transaction in the Oil/Gas Exploration sector.
  • This is Santos’ 1st transaction in Papua New Guinea.

M&A Deal Summary
Date 2021-12-17
Target Oil Search
Sector Oil/Gas Exploration
Buyer(s) Santos
Deal Type Merger

Target

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(S) 1

Buyer

Santos

Adelaide, Australia
Category Company
Founded 1954
Sector Oil/Gas Exploration
Employees3,864
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 STATS #
Overall 6 of 6
Sector: Oil/Gas Exploration M&A 6 of 6
Type: Merger M&A Deals 1 of 1
Country: Papua New Guinea M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-03 Kipper Gas Field

Australia

Kipper Gas Field is a provider of gas exploration and production services. The field holds over 620 billion cubic feet of recoverable gas and 30 million barrels of condensate and liquefied petroleum gas (LPG) reserves.

Sell $520M
Mergr

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