Project Profile
Value: Undisclosed
Location: Close to the Fly River port of Aiambak
Area: 13,362 sq. km
Kina Petroleum and Cott Oil & Gas have been awarded a new licence in Papua New Guinea’s Western Papuan basin. The pair made a joint application for PPL 436 which contains a number of prospects and leads on trend with the Aiamback structure in the neighbouring PPL 435 licence. The prospects and leads extended in a south-easterly direction towards the Oriomo High, where they become significantly shallower and, in turn, both easier and cheaper to test.
The firm work programme over the first two years of the PPL 436 licence will see the companies need to carry out aerogravity and aeromagnetic survey work, as well as seismic reprocessing, with a minimum commitment of US$417,994.
Both licences are located close to the Fly River port of Aiambak, which Kina would provide a means of transport for liquids hydrocarbons and added they were also both well positioned to take advantage of potential gas infrastructure.
Operators:
Kina Petroleum: Operator with 100% interest