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Australian Oil, Gas and Energy News

Updates from July, 2013

• OIL Search said it had discovered modest quantities of natural gas during a new exploration campaign in Papua New Guinea, but that the find had encouraged it to continue drilling.
• Woodside, Australia’s second-biggest oil company by output behind BHP Billiton, said the drop in revenue for June to $US1.3 billion – down from $US1.4 billion a year ago – was a result of an ongoing outage at the company’s Vincent oil field, which is historically Woodside’s biggest single source of oil production.
• GAS infrastructure giant APA Group has made merger proposal to gas distributor Envestra in a move that values the target at $1.98 billion.