ASX-listed Oil Search will spend $450-million to double its interest in the Pikka Unit Nanushuk oil field, in Alaska.
Oil Search in February last year completed a $400-million acquisition of a 25.5% interest in the Pika Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe Block in the Alaska North Slope from privately-owned companies Armstrong Energy and GMT Exploration Company.