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December 3, 2021updated 27 Apr 2022 12:07pm

PNG LNG project Conventional Gas Field, Papua New Guinea

By Carmen

PNG LNG project is a producing conventional gas field located onshore Papua New Guinea and is operated by ExxonMobil PNG. The field is located in block PDL 1, PDL 8, PDL 9, and PDL 7.

Two expansion projects are associated with the PNG LNG project conventional gas field, namely Associated Gas Expansion (AGX) and Angore Development Project. The expansion projects are currently in the feed and approval stage, targeting start-up during 2024 – 2029.

Field participation details

The field is owned by Exxon Mobil, Santos, JX Nippon Oil & Gas Exploration, Mineral Resources Development and Kumul Petroleum Holdings.


Production from PNG LNG project

The PNG LNG project conventional gas field recovered 29.81% 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 2052. The field currently accounts for approximately 94% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 1,360.02 Mmboe, comprised of 145.69 Mmbbl of crude oil & condensate, 43.13 bcf of natural gas reserves and 7,242.8 bcf of liquid natural gas reserves. PNG LNG project conventional gas field reserves accounts 0.46% of total remaining reserves of producing conventional gas fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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