Papua New Guinea ///

Regional report: Australia/Papua New Guinea

Kurt Abraham, Emily Querubin, World Oil

Considerable potential remains in this gas-prone region

Papua New Guinea recommits to Total’s $13 billion gas deal

After months of delays and new commitments by Total SA, Papua New Guinea will honor a gas deal with the French energy giant, clearing a major hurdle for a $13 billion plan to expand the nation’s fuel exports.

New prime minister could pose threat to PNG natural gas projects

A critic of Papua New Guinea’s resource deals has been chosen as the country’s prime minister, a potential speed bump for multi-billion-dollar natural gas export projects led by Exxon Mobil Corp. and Total SA.

PNG leader resigns over poorly handled ExxonMobil, Total LNG deals

Papua New Guinea Prime Minister Peter O’Neill has resigned, his Australian counterpart confirmed. The Australian Broadcasting Corp. reported he will hand over leadership to Julius Chan, citing comments at a media conference in Port Moresby.

Total, Papua New Guinea sign Papua LNG project agreement

Total and its partners ExxonMobil and Oil Search have signed the gas agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project.

Will Asia-Pacific's O&G sector join the global recovery in 2019?

The need to fill new and old gas infrastructure will see the drilling of exciting offshore prospects across Australia, Brunei, Malaysia, Myanmar, Pakistan and Papua New Guinea.

Total signs MoU with Papua New Guinea for LNG project

Total and its partners ExxonMobil and Oil Search have signed a Memorandum of Understanding (MoU) with the Independent State of Papua New Guinea defining the key terms of the gas agreement for the Papua LNG Project.

Santos reports significant natural gas resource at Barikewa-3, onshore PNG

Santos today announced the Barikewa-3 well, located in Papua New Guinea’s (PNG) onshore Forelands region, intersected 25 m of net gas pay within the Toro and Hedinia reservoir objectives.

Searcher Seismic completes 3D reprocessing project offshore Papua New Guinea

Searcher Seismic has announced the expansion of its modern, high-quality and exploration focused seismic, magnetic and geochemical focused production offerings offshore Papua New Guinea with the completion of the Laurabada UltracubeTM 3D reprocessing project.

Tiny Pacific island nation battles oil giant for LNG profits

The tiny, impoverished nation of Papua New Guinea came out on the short end of a $19-billion development with ExxonMobil Corp. to build one of Asia-Pacific’s biggest energy projects. But as the company pushes to expand the venture, the government is vowing that round two may require a much bigger payday for the locals.

Noble Energy to progress development of Alen field, offshore Equatorial Guinea

Noble Energy, Inc. announced that it has executed, along with the Government of the Republic of Equatorial Guinea and necessary third-parties, a Heads of Agreement establishing the framework for development of natural gas from Alen field located offshore Equatorial Guinea.

ExxonMobil reports 84% increase in P’nyang resource, potential expansion in PNG

ExxonMobil Corp. today announced that the size of the natural gas resource at P’nyang field in Papua New Guinea has increased to 4.36 Tcf of gas, an 84% increase from a previous assessment completed in 2012.

China's ENN to cautiously consider Harbour's $10.3-billion Santos offer

Chinese company ENN said it will consider a $10.3-billion takeover from U.S. suitor Harbour Energy for Santos Australian LNG exporter.

Over $57 billion to be spent on Oceania’s upstream projects by 2025, GlobalData says

An average capex of $7.1 billion per year is forecast to be spent on 31 upcoming oil and gas fields in Oceania between 2018 and 2025, according to GlobalData, a leading data and analytics company.

World of Oil & Gas

Emily Querubin, World Oil

TAG Oil Ltd. (70%), operator of the Puka permit (PEP 51135) in New Zealand’s Taranaki basin, said the Pukatea-1 exploration well was drilled to 10,170 ft, MD, encountering variable hydrocarbon shows.

ExxonMobil encounters hydrocarbons onshore Papua New Guinea

ExxonMobil today announced that it encountered hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea.

Santos strengthens PNG growth with farm-in to Aure Fold Belt

Santos has announced it will acquire a 20% equity in the PPL 339 licence in Papua New Guinea via a farm-in agreement with Kina Petroleum Limited.

Oil Search raises output goal on record Papua New Guinea gas

Oil Search Ltd., the Papua New Guinea-focused energy explorer, raised its full-year production target because of record output from the country’s liquefied natural gas project.

Oil Search output dips as PNG LNG June production hits record

Australia's Oil Search said on Tuesday that its second quarter output had slipped from the previous quarter due to maintenance, but production in June at its main asset, the PNG LNG project, had hit a record rate.

Santos, Exxon Mobil report positive results at Muruk 1ST3 well in Papua New Guinea

Santos today announced positive production well test results from the Muruk 1ST3 exploration well in the Papua New Guinea (PNG) Highlands.