May 20 (Reuters) - Oil Search Ltd OSH.AX :
* Oil Search Limited and Total SA (PA:TOTF) are pleased to announce that they have entered into an exclusive memorandum of understanding
* Says Oil Search to sell down 60% of the interest acquired from interoil in prl 15 and 62% of interoil's exploration assets to Total
* Following the sell-down to Total Oil, search expects to have an equity interest in prl 15 of up to 37.4%, or 29.0% post government back-in
* Both Oil Search and Total have committed to ensuring an accurate resource certification under the Total-Interoil spa
* Source text for Eikon ID:nASX8nRGTQ
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