Abstract

Farm-out exploration in Papua New Guinea offers material country entry with equity position in up to 2 exploration licenses with 2 wells scheduled between 2010-2011. Offshore acreage, adjacent to significant gas discoveries and planned infrastructure, is part of the exploration licenses. Developer would hav access to 1 drill-ready gas/condensate prospect. A pre-drill risk mitigation program is in progress for 2 high reward leads. PNG is looking for countries to enter build strategic partnerships with to build gas resources for additional LNG trains after the start-up of PNG LNG project in 2013/14. Papua New Guinea is a supportive government with excellent fiscal terms.

Keywords: Uramu Gas Discovery • Pasca Gas/Condensate Discovery • Pandora Gas Discovery • Flinders Turbidite • Pasca-B carbonate build up • Lead 7 turbidite • Legoan carbonate build up • Legoan • Flinders

Presented at: 2009 South East Asia Petroleum Exploration Society (SEAPEX) Conference, Singapore, 2009