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Papua New Guinea: Total takes Gulf of Papua stakes

Total SA has acquired interests and options from Oil Search Ltd. in five offshore and land blocks in the Gulf of Papua offshore Papua New Guinea.

Oil Search, as operator, and Total will explore and appraise the licenses, which are believed to have high potential for gas discoveries. Two exploratory wells are planned in early 2013.

Total will acquire a 40% interest in PPL 234 and 244, a 50% interest in PRL 10, and the option to acquire a 35% interest in onshore licenses PPL 338 and 339. The offshore blocks are in as much as 100 m of water.

PPL 234 and 244 lie north of the 1988 Pandora gas discovery, and PRL 10 surrounds the Uramu gas discovery (OGJ Online, Oct. 5, 1992). The onshore blocks lie east of Uramu.


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http://www.ogj.com/content/ogj/en/articles/2012/10/papua-new-guinea-total-takes-gulf-of-papua-stakes.html