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Huge oil and gas reservoir found in PNG

30-Jan-2009 Intellasia | Australia Network News | 7:52 AM

Interoil Corporation says the latest data from its wells in Papua New Guinea’s Gulf province suggest it has found the biggest continuous reservoir of gas and gas liquids in the country.

Radio Australia’s Jemima Garrett reports that the company is now certain it has enough gas to justify building a processing plant at its Napa Napa site near Port Moresby.

The gas processing project had been seen as a poor cousin to its ExxonMobil-lead competitor, over doubts about the volume of its supply.

However Interoil managing director Phil Mulacek says data from the Antelope well at the site show the resource, located in Gulf province, is 15 kilometres long and seven kilometres wide, and runs deeper than any well in the United States.

“The quality of the resource; internationally it will put PNG on the map,” he said.

“It’s going to get international recognition.”

Mr Mulacek says Interoil is now certain it has enough gas to build a one-train processing plant. and probably enough for two trains.

The project aims to start commercial production by 2014.


Category: ResourceAsia

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