Oil Search has reported a near 30 per cent drop in second-quarter revenue, hurt by a sharp decline in oil and gas prices as demand plunged due to the coronavirus pandemic.

The Papua New Guinea-focused oil and gas explorer recorded revenue of $266.2 million for the three months ended in June, down from $378.9 million a year earlier.

UBS analysts had forecast revenue of $267 million for the ASX-listed company.