Oil Search unveils A$400m Alaska oil deal

ASX-listed Oil Search on Wednesday announced a $400-million investment to acquire a number of tier-one oil assets in the Alaska North Slope. The assets include a 25.5% interest in the Pikka Unit and adjacent exploration acreage, and a 37.5% interest in the Horseshoe Block, which contain some 500-million barrels of combined resources in the Nanushuk and satellite oilfields, with Nanushuk being one of the largest conventional oilfields discovered in the US in more than 30 years.