Oil Search : boss recognised for outstanding service to PNG business and community

Media release

EMBARGOED UNTIL SATURDAY, 26 JANUARY 2019

Oil Search boss recognised for outstanding service to PNG business and community

Oil Search Managing Director, Peter Botten, has been awarded the Companion of the Order of Australia for eminent service to Australia-Papua New Guinea relations, particularly in the oil and gas industry.

Company Chairman, Rick Lee, today congratulated Mr Botten as recognition of his heartfelt and long-standing commitment to building corporate-community relationships in Papua New Guinea.

"Mr Botten has led the company with strength and integrity for 25 years," he said.

"Peter's leadership is held in very high regard for making a difference in PNG - not only from an industry level but at a very personal level too.

"As managing director, Peter has fostered a culture within Oil Search that focuses on doing the right thing - not just for shareholders but for all stakeholders, especially local communities in PNG. He has personally ensured that achieving positive social outcomes is at the forefront of Oil Search's strategy and operations.

"His passion and personal commitment to delivering such change exceeds, by most measures, what is expected in the role.

"As founder and chairman of the Oil Search Foundation, Mr Botten has led pioneering initiatives in the areas of HIV/AIDS management, disease control, child and maternal health, family and sexual violence, gender equality and literacy.

"Under his leadership, Oil Search remains committed to addressing important social issues and aspiring to set the standard for private sector contribution to sustainable development. He has promoted deep relationships between PNG and Australia by championing initiatives that have built trust and understanding in both countries.

"His outstanding business acumen coupled with his commitment to the social well-being of Papua New Guineans is worthy of this recognition."

The award to Mr Botten, announced as part of Saturday's Australia Day Honours, adds to his Commander of the British Empire (CBE) award for services to the community, mining and petroleum industries in Papua New Guinea.

"I firmly believe that companies cannot operate in isolation from society if they are to generate goodwill, maintain a moral compass and create shared value between community and business," Mr Botten said.

Oil Search Limited

Incorporated in Papua New Guinea ARBN 055 079 868

This belief is embedded within Oil Search's culture as a responsible oil and gas company - one that strives to exceed stakeholder expectations for governance, environmental and social performance while making meaningful contributions to the lives of Papua New Guineans.

Over the years, Mr Botten has been instrumental in developing value-based leadership behaviours in Oil Search's largely PNG workforce. He actively works with and mentors a wide range of people from graduate trainees to company leaders.

"Under his leadership, Oil Search remains committed to addressing important social issues and aspiring to set the standard for private sector contribution to sustainable development," Mr Lee added.

Mr Botten was appointed managing director in October 1994, having previously filled both exploration and general manager roles. He is currently the longest-serving CEO on the Australian Securities Exchange (ASX). He is also twice listed among Harvard Business Reviews 100 top performing CEOs in the world.

Under his leadership, Oil Search has become a successful, world-renowned company with an extensive appraisal and exploration portfolio. Its market capitalisation has grown from A$200 million to over A$12 billion.

Most recently, Peter led the company's expansion into the United States through the acquisition of key oil assets in Alaska.

Mr Botten is the founder and chairman of the Oil Search Foundation and sits as chairman of the Hela Provincial Health Authority (PNG) and the National Football Stadium (PNG). He is chairman of the Business for Development Board in Australia and is a non-executive director of AGL Energy Limited.

Ends.

Media enquiries

Ann Diamant

General Manager, Investor Relations & Communications [phone]

Footer - 24 January 2019

2