Article content This boosted the Papua New Guinea-focused firm’s operating revenue to $366.2 million, up from $266.2 million a year ago. Oil Search earlier in the month rejected an A$8.8 billion ($6.50 billion) takeover approach from Santos Ltd, saying it was inadequate. Oil Search’s shares on Monday closed about 4% above Santos’ offer price of about A$3.80 a share based on the gas producer’s close – indicating investors expect a higher bid. Oil Search, which is looking to sell a 15% stake in its $3 billion Pikka oil project in Alaska and a stake in the associated infrastructure, also said it will go ahead with a final investment decision for the project’s first phase only when it has the right funding capacity in place.