Papua New Guinea Oil and Gas Report Q3 2014

Business Monitor International
May 21, 2014
115 Pages - SKU: BMI5248362
Countries covered: Papua New Guinea

Papua New Guinea Oil and Gas Report Q3 2014

BMI View: The first LNG deliveries from Papua New Guinea's ExxonMobil-led PNG LNG facility, thecountry's first gas export project, are expected ahead of schedule in July 2014. There continues to be newproposals for LNG exports, including Total's monetisation plans for the Elk/Antelope fields and a possiblefloating LNG development by Osaka Gas. Gas projects will also offer some relief to a decline in liquidsoutput, condensate from the PNG LNG project will give oil production a temporary boost.

The main trends and developments we highlight for Papua New Guinea's oil and gas sector are:

Horizon Oil has been given approval for the Stanley Gas Project achieving the conditions required forOsaka Gas to take a 40% stake in the project. Initially the Stanley Gas project will produce around 4,000barrels per day (b/d) of condensate by around 2016, reinjecting produced dry gas. Eventually, this dry gasis expected to be combined with output from other production licences and sent to a floating LNG facilityat Daru Island. We have increased our liquids production forecast to accommodate new condensateproduction, but are yet to alter gas forecasts.



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