Saturday, May 25, 2013
Displaying 1 - 10 of 28 articles
Osaka Gas has said that it has agreed to buy part of licences in Papua New Guinea (PNG) currently held by Horizon Oil to develop condensate and natural gas resources. The Japanese firm will acquire stake in three licenses held by Horizon oil in the PNG. Osaka Gas will pay $204 million for a 40...
Indonesia and Papua New Guinea (PNG) have agreed to together explore for oil and gas in border areas. “The border possesses a huge amount of unexplored oil and gas reserves, according to data obtained by our team. Economically, it would be easier to jointly explore these untapped resources,”...
Eaglewood Energy and Ketu Petroleum have been offered Petroleum Prospecting Licence (PPL) 430 in the Western Province of Papua New Guinea. The licence comprises eight graticular blocks and is located immediately south of PPL 259. It covers a total area of 649 sq km and is 30 km south of gas and...
South Africa’s Sasol is planning to exit from its gas assets based in Papua New Guinea. 'Sasol is considering divesting from Papua New Guinea,' Alex Anderson, a company spokesman, told The Wall Street Journal. 'We are currently engaging interested parties.' The company has acquired...
Australia's Oil Search said in its 2012 annual report that company’s liquefied natural gas (LNG) project in Papua New Guinea (PNG) will most likely execute its first deliver in 2014. The project has already signed deals with four Asian buyers to supply LNG. The capital cost of the project...
Heritage Oil has agreed to acquire an 80% working interest in two onshore Papua New Guinea licenses: PPL 319 and PRL 13 from LNG Energy. In return for earning the working interests and operatorship Heritage will fund the costs of the seismic acquisition and the cost of drilling an exploration well.
The Australian government has extended its support to Papua New Guinean government in developing the liquefied natural gas project. Australia’s parliamentary secretary for foreign affairs, Richard Marles, said his country has to be doing everything it can to see the project succeed, Radio New...
ExxonMobil, operator liquefied natural gas project in Papua New Guinea, expects the Pacific nation will supply more than 10 million metric tons of LNG annually by 2025. Natural gas demand is forecast to rise by more than 60 percent by 2040, Jeff Appleton, Exxon senior vice president of LNG marketing...
Horizon Oil is in discussion to sell stake in its Papua New Guinea natural-gas assets, after drilling results beat expectations and highlighted the potential for a liquefied natural gas plant, Wall Street Journal has reported. A deal could be worth around 250 million Australian dollars ($259 million)...
The cost of LNG project in Papua New Guinea has blown out to $19 billion from a previous estimate of $15.7 billion, Santos said in a statement. Santos, along with Oil Search and Exxon are shareholders in the project. It is the second cost blowout announced by the joint venture. Last year, the cost estimate...