Oil Search H1 profit jumps 184 percent

SYDNEY, Aug 19 (Reuters) - Australian listed Papua New Guinea (PNG) oil and gas producer Oil Search Ltd (OSH.AX), on Tuesday posted a 184 percent surge in its first-half net profit, lifted by high oil prices.

The Port-Moresby-based company said net profit before one-offs for the six months to June 30 rose to $133.3 million, versus $46.9 million a year ago.

That beat forecasts of $126.7 million, according to a Reuters Estimates survey of nine analysts.

Oil Search in July cut its full-year production forecast to 8.5-9 million barrels because of an asset sale in the Middle East, which it said would pare output by 500,000 barrels.

Oil Search is a partner in Exxon Mobil's (XOM.N) proposed 6.3 million tonnes a year liquefied natural gas (LNG) project in Papua New Guinea led Exxon Mobil. The LNG project, estimated to cost $10-$11 billion, is targetting to have first delivery by 2014. ($1=A$1.15) (Reporting by Fayen Wong)