Friday, August 17, 2018

Twinza Oil  PNG Gas field on target with state goals

Twinza Oil PNG Gas field on target with state goals

Twinza Oil (PNG) Ltd’s offshore gas condensate field in Gulf is a straight forward project which will meet key state objectives for supply of products to the domestic market.
Managing-director Huw Evans said Twinza Oil was pleased to be on the cusp of developing Papua New Guinea’s first offshore gas-condensate field with offshore storage of condensate and LPG.
This will enable off take for the PNG domestic market.
“The project will meet key State objectives for supply of products to the domestic market, third party access to infrastructure and local content,” Evan said.
“Provided we can conclude project negotiation and PDL (petroleum development license) grant within the next few months, the project can meet its 1Q 2021 production schedule.
“This would result in much-needed revenue to Papua New Guinea and assist in the displacement of expensive imported fuel.”
The Australian oil and gas company has been working closely with the State towards delivering this pioneer offshore development.
According to Twinza, its Pasca A gas-condensate field was scheduled for field commissioning in late 2020 and first production in first quarter of 2021.
Discussions with the Department of Petroleum are almost concluded prior to the offer of PDL for Pasca A, which will result in the project commencing final engineering.
Negotiations for the gas agreement are ongoing, in parallel with the PDL process, with the objective of concluding negotiations, enabling the commencement of construction of Pasca A next year.
Plans and contracting for field development drilling are being finalised in advance of drilling and completing Pasca A development wells in Q4, 2019.
To date, Twinza has spent over a K250 million on the project.
Pasca A will also be the first offshore oil and gas development in PNG to produce natural gas liquids (NGLs) in the form of condensate (a light crude oil) and LPG, and will also produce natural gas.

Saturday, August 11, 2018

Oil Search confirms successful drill stem test for Barikewa 3 in PNG

Oil Search confirms successful drill stem test for Barikewa 3 in PNG

Petroleum retention licence 9 (PRL 9) operator Oil Search confirms that the Barikewa 3 appraisal well in PNG  has successfully completed a drill stem test, producing gas from a 14m interval of the Toro Sandstone.
The well flowed gas to surface at 35 million standard cubic feet of gas per day (mmscf/d) on a 68/64 choke.
Onsite analysis of the gas from the drill stem test and earlier wireline sampling confirms a dry gas with approximately 20 per cent nitrogen and very low levels of other impurities, in line with pre-drill expectations.
The main flow period of this test was witnessed on Tuesday by a high-level delegation including Gulf Governor Chris Haiveta, acting Secretary for Petroleum Kepsey Puiye, acting-director of Petroleum Bob Sari, and senior department officials.
Haiveta highlighted Oil Search’s significant investment in exploration and appraisal activities in the region.
He reaffirmed the support of his administration.
Barikewa 3 was spudded in late June and reached a total depth of 1943m on July 15.
The well successfully encountered gas in the target Toro and Hedinia Sandstone reservoirs, at depths in line with predrill expectations.
A gas-water contact was intersected in the Hedinia Sandstone.
Both reservoirs were well developed, with the Toro reservoir having better than expected thickness and quality.
As planned, the well will now be plugged and abandoned.
The Barikewa 3 appraisal well has successfully achieved its appraisal objectives through the collection of modern data.
This will help constrain the field’s resources and assist in establishing the optimal commercialisation pathway.
Participants in the well are Oil Search (PNG) Ltd – 45.1 per cent, Barracuda Ltd– 40.1 per cent and NPCP Oil Company Pty Ltd – 14.9 per cent.