Oil Search revenue falls as sales surge Crude oil prices fell by 8.2 per cent in the June quarter to $US104.58 ($A113.67) as world commodity prices came under pressure. This in turn negated Oil Search's sales success, as the timing of shipments boosted volumes by 33 per cent during the March quarter. Total operating revenue fell to $US381 million ($A414.13 million) in the first half of 2013, down 4.4 per cent from $398.5 million during the corresponding period in 2012. Oil Search shares fell eight cents, or 0.97 cent, to $8.15 at 1048 AEST as the broader Australian market opened marginally firmer. On a brighter note, Oil Search managing director Peter Botten said oil was discovered in the Papua New Guinean Highlands, at the Mananda six well, during the June quarter. Oil Search is in the process of applying to the PNG government for an oil field development licence at the Mananda ridge in August. "The potential oil in place on this feature could be as high as 100 million barrels," the company told the market. Also, a liquefied natural gas project in PNG is moving from the construction to commissioning stage, with a $US1.5 billion ($A1.63 billion) supplemental project financing remaining on schedule for the second half of 2013.