Project Profile
Value: Undisclosed
Location: Onshore eastern Papuan Basin of Gulf
Start-up Year: -
Area: 8,019 km2
In October 2010 a farm in agreement was signed with Oil Search Limited, setting out the terms upon which Oil Search may earn up to a 70% participating interest in PPL 339. PPL 339 covers an area of 8,019 km2 onshore eastern Papuan Basin of Gulf, Morobe, Eastern Highlands and Simbu Provinces. The license is divided into a large northern, irregularly shaped block of 77 contiguous graticular blocks (6237 km2), a southern block of 18 contiguous graticular blocks (1458 km2). The balance of the licence is made up of 3 small areas of 1 or 2 graticulars.
In the north, terrain is mountainous and can be accessed by road from Lae and Goroka. Kerema, is located in PPL 339 with Port Moresby accessible via the Hiritano Highway. The near coastal areas are well timbered and logging tracks provide some access into the hinterland.
Early exploration commencing with Kariava -1 (1941) was undertaken without the benefit of seismic data. Early wells failed to intersect a viable reservoir target due to structural complexity.Tovala-1 and -1A (1969), drilled with the benefit of seismic reached a depth of 3206m in Mid Miocene section, recorded gas flows from sands within which were fragments of reworked Eocene reefal limestone. InterOil’s seismic data over Elk Antelope is generally of good quality and successfully delineated the giant Elk/Antelope Field (2006 to 2010) which is located 15km from the PPL 339 boundary.
From recent research on this project by the ProjectsOGP analyst team, it was found that Cap rock Regionally are the Aure Beds (up to 3km thick) which form an effective and regionally extensive seal over the Mendi Group carbonates. Drilled Hohoro-1 and Upoia 1 are located on or near previously recorded seismic lines in southern PPL 339 Were drilled previously. Seismic data supports the presence of an uplifted basement block which may extend from Elk /Antelope in the northwest through PPL 339. Kina have confidence that a reef carbonate fairway may run from Elk/Antelope to the southeast, with Eocene through to Miocene carbonates interpreted to extend into PPL 339 along this high trend. Late Cretaceous sandstones beneath the aforementioned carbonates form a viable secondary reservoir target throughout the southern part of the license. Numerous oil and gas seeps in PPL 339 confirm an active petroleum system operating in the block. These seeps have been sampled during 2013 for geochemical analysis. Biodegraded oil was sampled from the old Upoia bore. Gravity-radiometry data suggests that a barrier reef system had developed in the SW of the license which is mid-late Miocene to Pliocene in age, inundated with sedimentation in the Pliocene with organic activity in the north of the license. The Kalangar, Bowerbird and Cassowary prospects are located within prospecting Lisence 339. The Kalangr prospect carbonate reservoir is hard to map and isn’t possible to see if its closed from the Cassoway prospect, the presence of hydrocarbons is also ill defined. The Bowerbird prospect has an independent fault trend antithetic to the main barrier reef fault system that hosts the Kalagar and Cassowary but is deeper so therefore harder to image.
Operators:
Oil Search (PNG) Ltd (Operator): 35%
Total E&P PNG 2 B.V.: 35%
Kina Petroleum (PPL339) Limited: 10%
Barracuda Limited (Santos): 20%