Project Profile
Location: Aitape Basin, Papua New Guinea
Area: 4,947 km²
Exploration drilling: 2020
The Petroleum Prospecting License (PPL) 549 covers 4947sq.km in the onshore North New Guinea Aitape Basin in Papua New Guinea (PNG). The Minister for Petroleum and Energy has signed and issued the formal PPL 549 licence document, which took effect on 27 May 2016. The license has been given on a six-year term, with a further six-year renewal period. First well commitment in PPL 549 is due in the fourth year (by mid-2020).
There is both structural and stratigraphic play potential in PPL 549. The first phase of the work program is focused on validating previously identified carbonate reef anomalies and the potential of classic reservoirs in the licence through reservoir, seal and analogue studies, field work and seismic reprocessing. Previous exploration efforts have mapped reefal anomalies from seismic data, which present to be attractive exploration targets. These reefs appear analogous to the major reefal carbonate reservoirs of the large producing fields of the Salawati basin in Irian Jaya, 900 km west of PPL 549, with similar oil type and potential source rock.
The Salawati basin holds an estimated 475MMboe of proven hydrocarbon reserves and has been producing oil and gas since the 1930s. Structural traps also appear to exist along the southern margin of the Aitape basin, in close proximity to oil seeps along the bounding fault zone. Rawson holds 100% interest in PPL 549.
Operators:
Rawson Resources: 100% interest