Project Profile
Value: Undisclosed
Location: Western Province, Papua New Guinea
Area: 8,995 km2
Reserves: 5 drillable prospects including Hides (9.6 TCF GIIP), Juha (1.5 TCF GIIP) and Pnyang (1.2 TCF GIIP)
Start-up Year: -
PPL 269 occupies an area of 8,995 km2 in the Western Province straddling both foreland and foldbelt structural terranes. South of the foldbelt elevations vary from 600m in the Tarim area to 50m in the southern part of the permit. Kiunga has an international port linked to Tabubil and the Ok Tedi Mine by a well-maintained road that runs through western PPL 269. This licence has 5 drillable prospects and adjacent licences contain major wet gas discoveries including Hides (9.6 TCF GIIP), Juha (1.5 TCF GIIP) and Pnyang (1.2 TCF GIIP). 5 prospects mapped and 34 leads identified, remapping and additions to lead inventory underway. In 2015, Repsol completed a 2D seismic campaign over the PPL269 block following its takeover of Canadian explorer Talisman in the same year.
Major discoveries on trend and oil potential in west and wet gas potential had been identified, however the Strickland-1 well drilled in 2016 was dry. The Siphon - 1 Well was also plugged and abandoned in September 2011.
A number of 1980s vintage seismic lines from the foothills area of western PPL 269 had been reprocessed to better tie the recently acquired 2011 data. The Maipe structure was remapped to show two main closures at Maipe B and Maipe C with prospective resources of 150 and 190 bcf of gas in place.
Operators:
Repsol (Operator): 50% interest
Barracuda (a subsidiary of Santos): 30% interest
Oil Search Limited: 10% interest