Oil Search : Restart of second LNG train at PNG LNG plant site

ASX Announcement

Restart of second LNG train at PNG LNG plant site

30 April 2018

ExxonMobil has advised that the second LNG train at the PNG LNG plant site has restarted producing LNG and LNG exports have resumed (see attached release). The Komo Airfield, located in the PNG Highlands, has also reopened after the completion of necessary remediation work.

Today's announcement is reflected in Oil Search's 2018 production guidance range of between 23 and 26 million barrels of oil equivalent, which was provided in the 2018 First Quarter Results released on 17 April 2018.

PETER BOTTEN, CBE

Managing Director

30 April 2018

For more information, please contact: Ann Diamant

General Manager, Investor Relations and Communications

Tel: Mob:

+612 8207 8440 +61 407 483 128

Stephanie Chu

Investor Relations Manager

Tel: Mob:

+612 8207 8542 +61 481 038 179

Oil Search Limited

Head office

Sydney office

Mailing address

Incorporated in

Papua New Guinea ARBN 055 079 868

Port Moresby Papua New Guinea

1 Bligh Street Sydney NSW 2000 Australia

GPO Box 2442 Sydney NSW 2001 Australia

Tel: +61 2 8207 8400 Fax: +61 2 8207 8500www.oilsearch.com

MEDIA RELEASE I FOR IMMEDIATE RELEASE I 30 April 2018

For information: Anne Rix I Phone: +675 309 7071 I Email:anne.c.rix@exxonmobil.com

ExxonMobil PNG Resumes Normal LNG Production Rates

• • Production rates restored after safe startup of PNG LNG plant train 2

• • LNG exports have resumed

• • Company remains committed to supporting communities in earthquake recovery efforts

PORT MORESBY - ExxonMobil PNG Limited, operator of PNG LNG, has restarted its second liquefied natural gas (LNG) train. The plant is now operating at normal production rates, and exports of LNG have resumed.

Production has been gradually increasing since the Hides gas conditioning plant and one train at the PNG LNG plant restarted earlier in the month. The company expects to reach full capacity in May.

ExxonMobil PNG Managing Director Andrew Barry applauded the efforts of company employees, contractors, the government, partners and aid agencies, among many others, who have worked tirelessly to safely resume operations and assist communities in earthquake recovery efforts.

"I am extremely proud of the spirit of partnership and commitment that has been displayed by so many in recent weeks to help our business and communities through these events," Barry said. "We know there is a lot of work to be done and communities are still struggling. It will take some time to restore homes, food gardens, health centres and education services, and we remain committed to working with the government, our community partners and aid organisations to continue providing assistance and support in the weeks and months ahead."

Humanitarian support to date by ExxonMobil PNG includes delivery of 50 tonnes of food and drinking water, 600 tarpaulins, 1,020 solar lights and other essential items such as purification tablets, cooking aids and hygiene kits. Exxon Mobil Corporation has provided nearly K3.5 million towards humanitarian relief.

ExxonMobil PNG is also assisting the government to build infrastructure and key roads and bridges for Hela and Southern Highlands provinces that were destroyed during the disaster.

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About ExxonMobil PNG

The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities. Participating interests are affiliates of Exxon Mobil Corporation (including ExxonMobil PNG Limited as operator), Oil Search Limited, Kumul Petroleum Holdings Limited, Santos Limited, JX Nippon Oil and Gas Exploration and Mineral Resources Development Company. Visit pnglng.com