Project Profile
Value: unknown
Location: Gulf of Papua, Offshore Papua New Guinea
Area: 350 kilometres2 of 3D seismic (25 km2 site survey)
Reserves: Unknown
Production: 84 MMboe
Water depth: 93 metres
Start-up Year: -
Twinza Oil is the operator of the project and is focused on developing the Pasca A field. The field was discovered in 1968, some 200 kilometres west of Port Moresby in 93 metres of water, in the Gulf of Papua making it the first offshore hydrocarbons field development within PNG waters. The Pasca A gas condensate field is a carbonate pinnacle reef that was discovered some 47 years ago but has lain dormant for nearly three decades on the basis of a lack of a commercially viable development solution. However, improvements in drilling efficiency, production technology and development engineering have transformed the technical and financial viability of the Pasca A gas condensate discovery. So far at the field, three wells have been drilled. The operator has found that the field has a high flow capacity and rich-liquid potentioal. The Pasca-1 and 2 wells were tested for almost 30 days with 4 days at full flowing conditions. The results of the drill testing are as follows: 480-800 BCF liquids-rich gas in place, with an expectation of high recovery of hydrocarbons.
Twinza Oil submitted an application for a Petroleum Development Licence (PDL) to the Department of Petroleum and Energy on the 30th June 2015. The application is the culmination of four years of technical assessment involving 3D marine seismic, extensive site specific surveys and comprehensive technical, engineering and commercial evaluation on the Pasca Project. Gaffney-Cline & Associates has completed an independent resource estimate of the Pasca A field on behalf of the joint-venture with a best technical estimate of 84 MMboe of recoverable resources. A significantly higher upside case will be assessed by further drilling activities.
Operators:
Twinza Oil: Operator with 90% interest
Eda Oil Limited (a wholly owned subsidiary of Petromin Holdings): 10% interest
Contractors:
Metocean Services International (MSI): 1 year metocean measurement program
Subcontractors: