Rick Wilkinson
OGJ Correspondent
MELBOURNE, Feb. 26 -- Oil Search Ltd., Sydney, says it plans to focus exploration efforts this year on finding more natural gas to underpin the expansion of the LNG project in Papua New Guinea.
Oil Search Managing Director Peter Botten said activities include the drilling of the Wasuma, Korka, and Mananda Attic prospects as well as seismic data acquisition both on and offshore.
The company also is hoping to get the most out of its oil assets, including the drilling of one or two development wells in Moran field, appraising a deep play in Agogo field, and carrying out a workover program in Kutubu, Moran, and Southeast Gobe fields—all in the Papua New Guinea highlands.
The deep intervals at Agogo, which had oil in several intervals in the previously untested footwall forelimb compartment, would come in for priority treatment. Oil Search plans to flow test these intervals to determine hydrocarbon content, reservoir productivity, and potential for future development opportunities.
The oil in the Agogo footwall has opened up a new play fairway in the fold belt region and this has significant implications for the development of analogous structures below existing fields as well as the increased prospectivity on trend in adjacent permits.
Botten added that the remaining issues before financial close of the Papua New Guinea LNG project, including the signing of the final sales and purchase agreement, should be resolved within the next month. First draw-downs from the project financing facility are expected to be made shortly before financial close.
