Oil Search said on Tuesday it was close to sealing a significant acquisition, sparking speculation it had reached a deal to purchase into rival InterOil's gas fields in Papua New Guinea.Oil Search, Papua New Guinea's biggest oil firm, has said previously that it was in talks to buy into the Elk and Antelope fields, which French oil giant Total SA acquired a stake in last December in a deal worth up to $3.6 billion.Oil Search had been due to release its full-year results on Tuesday but postponed that for at least two days due to the pending deal. It failed to comment on the transaction it was working on."As soon as we have something finalised, we'll release our results and information about the transaction," Oil Search's Investor Relations Manager Ann Diamant said.
Total SA is a France-based integrated international oil and gas company. Shares of TOT traded higher by 1.41% or $0.88/share to $63.15. In the past year, the shares have traded as low as $45.93 and as high as $63.59. On average, 1038190 shares of TOT exchange hands on a given day and today's volume is recorded at 1047605.
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