Papua New Guinea

October 17, 2012

Esso Highlands, as operator, has begun drilling for the PNG LNG Project at the Hides gas field, located in the Southern Highlands province of Papua New Guinea, to evaluate the gas potential of the approximately 9tcf of reserves and build a resource base to underwrite further development and LNG expansion opportunities. A specially designed earthquake resistant Nabors Rig 702 is being used to drill the initial well, the first of several gas production wells at Hides, to be augmented by a second drilling rig.

First LNG deliveries from the $16 billion development are anticipated in 2014.

The PNG LNG Project integrates gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities with participants that include Oil Search, National Petroleum Company PNG, Santos, JX Nippon Oil & Gas and Petromin PNG Holdings.

InterOil has executed a farm in agreement whereby Pacific Rubiales Energy (PRE) acquires a 10% net (12.9% gross) participating interest in PPL237, onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that license.

PPL237, originally 100% held by InterOil and covering about 15,800km2 in the Eastern Papuan Basin northwest of Port Moresby, harbors the Antelope-2 appraisal discovery well which flowed 704mmcf/d of gas and 11,200b/d of condensate in 2009. The Antelope field extends into InterOil’s adjacent onshore permit PPL238.



Current News

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco Pursues IPO Planning Despite Attack

Middle East Risks Keep Oil Prices High

Middle East Risks Keep Oil Prices High

Transborders Joins Forces with Osaka Gas

Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

Oil Price Spike after Saudi Attack Temporary

Oil Price Spike after Saudi Attack Temporary

CannSeal Debuts Mobile Mixer Technology

CannSeal Debuts Mobile Mixer Technology

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week