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Papua New Guinea explorers eye deepwater play in Coral Sea

10/19/2009
By Michael Swift, Peter Cockcroft, Jimmy Haumu
Papua New Guinea has a well established oil and gas production region in the Highlands area of the country.The commercial fields are largely restricted to a narrow fairway of Jurassic age clastic reservoirs in the Papuan basin. The deposits are mainly gas-condensate with some oil-only fields, and current known gas and liquids in place total 30.5 tcf and 1.247 billion bbl.A second play, Miocene reefs in the western Papuan basin, is mostly biogenic gas, with limited geographic distribution; again, a narrow ribbon on a paleo-shelf break.There is always a need to discover a new play to increase the prospectivity and hydrocarbon potential. Blue Energy Ltd. has done this and gone one step furth...
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