Oil price recovers amid Covid

 OIL prices have seen a robust recovery in recent months since the initial impact of the Covid-19 last year where prices averaged approximately US$43 (K150) per barrel of oil (bbl) to levels above US$60/bbl (K210) since February this year, according to Oil Search.

Responding to queries, a spokesperson for the company also told The National that: “To date, there has been no impact to production in our Oil Search operations in PNG as a result of the recent surge in the Covid-19 cases.

“The increase in confirmed Covid-19 cases in PNG has prompted Oil Search to enact its crisis and emergency management plans.

“The health and safety of our employees remains the company’s highest priority and teams have been assembled in PNG and Sydney to deploy additional support to protect our people and to ensure the safety and reliability of our operations. At our PNG field locations, we continue to operate under precautionary protocols established in 2020, which includes redeployment of non-essential personnel, restriction of access and travel to field locations and implementation of strict preventative measures and quarantine zones.

“We have enacted additional risk mitigation measures include establishing ‘cocoons’ for our field teams and extending the quarantine period for employees and contractors.

“To date, there has not been a single positive case recorded in our operating sites outside of quarantine.

“We have also conducted more than 7,500 Covid-19 tests at out medical clinics and quarantine facilities in PNG.

“Beyond the safety of our own people and assets, Oil Search stands ready to work with relevant Government and health authorities to assist in PNG’s overall response to the Covid-19.

“This includes the dissemination of accurate information around the Covid-19 and vaccinations, supporting provincial health authorities to implement an effective vaccination programme, and providing logistics and cold chain support where required and as directed by the Government.”


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