Project Profile
Value: Undisclosed
Location: Gulf of Papua
Start-up year: -
Area: -
Currently leased to Rockwell Energy 100% Operator. Under the farm-in oil search secures 30% of the licence equity in exchange for funding an extension of the current 3D seismic study over high graded areas in the licence.
Oil Search secures an option to increase its equity to 80% in exchange for a well carry. In the event that Oil Search exercises this option, Oil Search will assume Operatorship of the licence.
Operators:
Rockwell Energy: Operator with 100%
Oil Search: Entitled to 30% of the licence equity