Oil Search chair steps down
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MELBOURNE, Feb 25 AAP
February 25 2013, 5:55PM
Energy company Oil Search's chairman Brian Horwood has quit as a director after nearly nine years in the role.
The former Rio Tinto executive will be replaced by current board member and former CSR executive Rick Lee this week.
Oil Search produces and explores for oil in Papua New Guinea and has a 29 per cent stake in the $US19 billion PNG LNG project, which it says is on track for first liquefied natural gas sales next year.
Oil Search will report its full year financial results on Tuesday, having posted a net profit of $US107.5 million ($A104.81 million) for the six months to June 30, down six per cent.