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 four active Petroleum Prospecting Licenses, namely PPL 614, PPL 634, PPL 671 and PPL 682. One application, APPL 689 is currently under Application for Petroleum Prospecting Licence
PPL682 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 532 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.
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 689 is both oil and gas potential. Licence is west of PPL 634 & PPL 671. Strategic for extended undiscovered Mananda Oil resource.
