Oil Search Ltd. (OSH.AU) said Thursday it will book an impairment charge in its 2011 profit results of about US$33.2 million after it was unable to extend its involvement an oil block in Kurdistan.

The impairment charge for the Sahkal block will be reported as a significant item in the company's results for the year to Dec.31, due to be released later this month.

The Australian company, with most of its assets in Papua New Guinea, said it remains committed to Kurdistan and plans to start drilling a well in the Taza block in mid-2012.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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