Powered by
PNG Facts
List Your Business Free on our Database :  Submit Now 
  • Home
  • News
  • Business News
  • Sports News
  • International News
  • Corruption News
    • Expose Corruption in Papua New Guinea
    • Expose Police Brutality in PNG
    • Stop Violence against Woman
  • Mining Watch
    • PNG Kumuls Videos
    • List of Mines in PNG
  • Jobs
    • Jobs and Employments in PNG
    • Jobs in PNG
    • Seasonal Employment Overseas
    • Applying for Jobs and Employments in Papua New Guinea
  • Education News
  • Scholarships
  • Health News
  • Bzzworld Online Shopping Platform
  • Pacific
  • Used Cars
    • Used Cars for sale in PNG
  • Buy or Rent Homes
  • Travel
    • City of Port Moresby
    • Adventure and Destination
    • Hotels & Lodges in PNG
    • Hotels & Lodges in Mendi, Southern Highlands Province
    • Hotels & Lodges in Lorengau, Manus Province
    • Hotels in Oro Province
    • Hotels and Lodges in ESP
    • Hotels & Lodges in Kavieng
    • Hotels and lodges in Kimbe
    • PNG Photo Gallery
    • Map of Papua New Guinea
  • PNG
    • Government >
      • PNG National Anthem and Pledge
      • Overview
      • PNG Overseas Missions
      • Office of the PNG Prime Minister >
        • Prime Ministers of Papua New Guinea
      • Papua New Guinea Parliament
      • Provinces in Papua New Guinea >
        • PNG Provincial Goverments
        • Southern Highlands Province
      • PNG Government Overseas engagement >
        • List of PNG Parliament Members 2017 - 2022
      • Office of the Papua New Guinea Opposition >
        • Papua New Guinea Opposition
      • Politics >
        • PNG Political Parties
        • Papua New Guinea Cabinet Ministers
      • Royal Papua New Guinea Constabulary >
        • PNG Police Recruitments and Applications
    • PNG's Famous People
    • PNG Education System >
      • Overview
      • Education Reform in PNG
      • Study Abroad
      • Universities in Papua New Guinea >
        • University of Papua New Guinea
        • University of Technology PNG
        • Divine Word University
        • University of Goroka
        • Pacific Adventist University
        • University of Natural Resources and Science - PNG
      • Institutions in PNG >
        • Teachers Colleges in Papua New Guinea
      • Research Papers in PNG
    • PNG Economy >
      • PNG EconomyOverview
      • Banks in Papua New Guinea
      • List of Airlines in Papua New Guinea
      • Cost of living in Papua New Guinea
      • Doing Business in Papua New Guinea
    • Health
    • Pacific Jokes
    • Gospel Music
  • Computer Tech
    • Tech Help
    • Top Weebly designed Websites >
      • HOW TO RECOVER FILES WITH SHORT CUTS OR HIDDEN IN FLASH DRIVE OR EXTERNAL HARD DRIVE
      • How to remove Stubborn Computer Virus
      • Creating Login or Sign in Membership page in Weebly sites
      • How to auto insert Table of Content in Word
      • Top Weebly Website Examples and Portfolio
      • Weebly Membership Sign in feature available
    • Computer Resources for PNG
    • Send Free SMS in PNG
    • Radio Stations
    • Television stations >
      • Kundu 2 Television Service of Papua New Guinea
  • PNG Information Directory
    • Business Names Registration
    • Registering a Company in PNG
    • Tour Operators in PNG
    • Festivals and Tourism in Papua New Guinea
    • Lae City , Papua New Guinea
    • Armoured Car Services in Papua New Guinea
    • Taxi Services in Port Moresby
  • Classifieds
  • About us
  • Contact Us
  • Competition
  • Advertisement
    • Payments
  • Privacy Policy
  • SP PNG Hunters News
  • Weebly Forums
  • National Football Stadium, Port Moresby
  • Work Permits and VISAs in PNG : Guide
  • Seasonal Workers Program for PNG
  • List Your Business on PNGFacts.com
  • Twodot Business Solutions
  • Become a Sponsor
Post by Staff Reporter

Oil production in PNG  to rise in  2014

24/2/2014

 
THE long-term downward trend in PNG’s oil production will be reversed this year as a result of output from PNG liquefied natural gas (LNG) project, Oil Search managing director Peter Botten (pictured) said. 
In the December quarterly report of PNG Chamber of Mines and Petroleum Newsletter., Botten stresssed that due to LNG project and strong operating performance from current oilfields, projected oil production this year has been raised from previous estimate of 10 million to 13 million barrels of oil equivalent to 12-15 million barrel of oil equivalent (boe).
This contrasted with a more conservative PNG Treasury projection of total oil and condensate export of 8.2 million barrels this year, rising to 15.6 million barrels next year.
He said in Oil Search share of oil production and gas-to-electricity at Hides last year amounted to 6.74 million boe compared with a current forecast of 6.3-6.8 million boe this year, with an additional 1.3-1.8 million boe of condensate coming from the LNG project. 
Botten said gas from Kutubu had been introduced to Hides gas conditioning plant (HGCP) following the start of commissioning activities at LNG plant in the third quarter of last year.
Other milestones reached by LNG project include:

  • Welding of main gas pipeline connecting HGCP to offshore pipeline completed in December quarter; 
  • The condensate line linking Kutubu to HGCP finished and temporarily used to supply commissioning gas from Kutubu to HGCP. 
Once LNG production began, pipeline will carry condensate to Kumul oil export terminal in Gulf of Papua;

  • Installation of pipeline gathering system linking Hides production wells to HGCP is making good progress. 
Drilling of fourth Hides production well was completed during last quarter; and

  • Scoping studies continuing on P’nyang field to submit a development licence application early next year. 
New seismic is being shot over P’nyang and Juha fields. 
Meanwhile, the  petroleum development licence application for Mananda 5 and 6 has been submitted to the Petroleum Department with hopes that the current Manada 7 drill hole would be incorporated into licence if it was successful.

Don't Miss out on Breaking News, Get email alerts: Subscribe now

Enter your email address to subscribe for News:

Delivered by PNGfacts


Comments are closed.

    Papua New Guinea Business News 

    We cover all Papua New Guinea and International business news on this page. Please subscribe to our latest business on the subscribe form available on this page. 

    RSS Feed

Our Sponsors 

Picture
Picture
Picture
Picture
Picture
Proudly powered by Weebly
Study Abroad
Scholarships 
Sponsors
Universities

Seasonal Employment
Job/Employment


Privacy Policy 


PNG News 
Business News
International News
Sports News                                Kumul players' profile
Used Cars 
Government
Constitution
Education
Health
City of Port Moresby
Hotels/Lodges
Faces of PNG
Computer Guides
Weebly Forums
Tok Pisin Dictionary
Adventures Photos 
Travel
Kokoda Track
Tours 
Gospel Music
Survey  
Contact Us
About Us 
Send Free SMS
PNG Jokes 
Subscribe to our weekly newsletter.

Advertise with US

Home: PNG News :Travel : Government System: Computer Tech : About us:  Contact : Disclaimer : Sitemap : Login  Copyright & Disclaimer    © 2012 -2019 PNG Facts: All rights reserved: 
 Website developed by  Kilikalo  Technology & Business Solutions Ltd   Powered by Weebly