Record quarterly production has softened the impact of plunging liquefied natural gas prices for Oil Search and driven an upgrade to its full-year output forecast as the $US19 billion Papua New Guinea LNG project performs above expectations. Oil Search said on Tuesday that based on strong performance in the first half of 2015, it had increased its full-year production guidance by about 1 million barrels of oil equivalent to between 27 million and 29 million boe.