Oil Search (ASX:OSH) share price rises today after a week in the red // The Motley Fool Australia

The Oil Search Ltd (ASX: OSH) share price is trading at $3.96 at the time of writing, rising over 2% higher for the day after spending the past week losing ground.

Last week, Oil Search released its fourth quarter report for the period ended 31 December 2020.

Let’s take a look at how the Papua New Guinea-focused oil and gas explorer has been performing recently.

Record production and developments progressing

Oil Search reported a record annual PNG LNG production rate of 8.8 million tonnes per annum (MTPA) (gross).

The PNG LNG Project is a world-class liquefied natural gas development that commenced operations in 2014. Oil Search claims that the project has transformed the company into a regionally significant oil and gas…