PNG LNG project is a producing conventional gas field located onshore Papua New Guinea and is operated by ExxonMobil PNG. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block PDL 1, PDL 8, PDL 9, and PDL 7. Buy the profile here.
Two expansion projects are associated with the PNG LNG project conventional gas field, namely the Associated Gas Expansion (AGX) and the Angore Development Project. The expansion projects are currently in the feed and approval stage.
Field participation details
The field is owned by Exxon Mobil, JX Nippon Oil & Gas Exploration, Kumul Petroleum Holdings, Mineral Resources Development and Santos.
Production from PNG LNG project
The PNG LNG project conventional gas field recovered 33.21% of its total recoverable reserves, with peak production in 2017. The peak production was approximately 29.69 thousand bpd of crude oil and condensate and 1,163 Mmcfd of liquid natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2055. The field currently accounts for approximately 95% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 1,306.93 Mmboe, comprised of 139.45 Mmbbl of crude oil & condensate, 40.54 bcf of natural gas reserves and 6,964.33 bcf of liquid natural gas reserves. PNG LNG project conventional gas field reserves accounts 0.45% of total remaining reserves of producing conventional gas fields globally.
For more details on the PNG LNG project Conventional Gas Field, buy the profile here.