OIL & GAS EXPLORATION
First recognized national Oil and Gas Exploration and Production Company in PNG
To be the first recognized successful and reputable national Oil and Gas Exploration and Production Company in PNG, bringing value to our industry, shareholders and community and promote employee Sustainable improvement of livelihoods of Papua New Guineans.
We own and operate three active Petroleum Prospecting Licenses, namely PPL 614, PPL 634 and PPL 671. Three applications are currently under Petroleum Prospecting Licence including APPL 681, APPL 682 and APPL 689.
PPL 523 is oil potential, has an estimated 3800 mmbbl of oil in place. Licence is in the foreland of Western Province and geographically flat and any future developments in the area can be accessed via the Morehead and Fly Rivers. Status: PPL 523 Expired, 31st August 2022. New APPL lodged, now as APPL 681.
PPL532 is both oil and gas potential. Licence in proximity to known discoveries, Pnyang Gas Field, Stanley Gas Field. Undiscovered hydrocarbon in place comprised 996 mmbbl oil and 1.4 tcf gas. Prospectivity potential remains to be realized with new seismic in the area.
Status: PPL 532 Expired, 31st August 2022. New APPL lodged, now as APPL 682.
PPL 614 has gas potential and lies just south of Ketu, Elevala gas-condensate fields. Lying on trend and immediately to the east is Pukpuk and Douglas gas fields. It is located in the Lake Murray area and can be accessed via Fly River.
PPL 634 is oil play with 281 mmbbl oil in place. Licence abuts PPL 671 and resource is apportion between the two licences. A key licence just NW of Mananda discovery field. New leads have indicated potential for significant resource upside.
PPL 671 is the Mananda oil discovery field. Both Oil Search (2014) and 3D-Geo (2017) confirmed, a recoverable resource of 7.7 mmbbl and 9.6 mmbbl oil respectively in the Hanging Wall was below the MEPS and deemed uneconomical.However, discovered recoverable P50 in place resource is circa 50 mmbbl.
APPL 681 is oil potential, has an estimated 3800 mmbbl of oil in place. Licence is in the foreland of Western Province and geographically flat and any future developments in the area can be accessed via the Morehead and Fly Rivers.
PPL 682 is both oil and gas potential. Licence in proximity to known discoveries, Pnyang Gas Field, Stanley Gas Field. Undiscovered hydrocarbon in place comprised 996 mmbbl oil and 1.4 tcf gas. Prospectivity potential remains to be realized with new seismic in the area.
APPL 689 is both oil and gas potential. Licence is west of PPL 634 & PPL 671. Strategic for extended undiscovered Mananda Oil resource.
