Pasca Phase I is a conventional oil development located in shallow water in Papua New Guinea and is operated by Twinza Oil (PNG). According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Pasca Phase I was discovered in 1968, lies in block APDL 14, with water depth of around 288 feet. Buy the profile here.
The project is currently in approval stage and is expected to start commercial production in 2025. Final investment decision (FID) of the project will be approved in 2024. The development cost is expected to be $640 m. The Pasca Phase I conventional oil development will involve the drilling of approximately three wells and includes fixed platform, FSO, and wellhead platforms.
Field participation details
The field is owned by Kumul Petroleum Holdings and Twinza Oil.
Production from Pasca Phase I
Production from the Pasca Phase I conventional oil development project is expected to begin in 2025 and is forecast to peak in 2028, to approximately 10,450 bpd of crude oil and condensate and 8,550 bpd of natural gas liquids. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2053.
Remaining recoverable reserves
The field is expected to recover 66.19 Mmboe, comprised of 36.40 Mmbbl of crude oil & condensate and 29.78 Mmbbl of natural gas liquid reserves.
Contractors involved in the Pasca Phase I conventional oil field
Some of the key contractors involved in the Pasca Phase I project as follows.
Design/FEED Engineering: DRL Engineering
Other Contractors: Baker Hughes, China National Offshore Oil, Metocean Services International, ERIAS Group and EnviroGulf Consulting
For more details on the Pasca Phase I Conventional Oil Field, buy the profile here.