InterOil's Antelope-1 shows promise in Papua New Guinea
InterOil reported that its Antelope-1 wildcat onshore Papua New Guinea could contain sufficient gas to supply the first LNG train in its proposed Liquid Niugini Gas project near Port Moresby.
MELBOURNE, Mar. 3 -- InterOil Corp. reported that its Antelope-1 wildcat onshore Papua New Guinea could contain sufficient gas to supply the first LNG train in its proposed Liquid Niugini Gas project near Port Moresby after the well flowed a record 382 MMcfd of gas. The flow was accompanied by 5,000 b/d of condensate.
Antelope has reportedly intersected the largest onshore vertical hydrocarbon column—2,600 ft (gross)—in the Asia-Pacific region. The company's reservoir engineers estimate the discovery could contain more than 10 tcf of gas. Independent estimates are now being conducted.
Put with previous discoveries at the Elk field in the region InterOil says it is proceeding with plans for a two-train LNG plant capable of producing up to 9 million tonnes/year of LNG beginning late 2013 or early 2014.
Liquid Niugini Gas was originally a joint venture of InterOil, Merrill Lynch, and finance firm Clarion Finance. InterOil says it has now acquired Merill Lynch's stake in the project.
It previously selected Bechtel to carry out front-end engineering and design as well as engineering, procurement and contract work for the LNG plant. In addition, the JV had also chosen ConocoPhillips's optimized cascade process technology for the plant design.
The plant is to be built near InterOil's Napa Napa refinery in Port Moresby and will be capable of producing 5 million tonnes/year of LNG from a single-processing train. Despite the success at Antelope, the second train remains an option that has yet to be confirmed.