Oil Search has signed a statement of intent on the next phases of the Ramu Power Project in Papua New Guinea. The company said the agreement has been made with government-owned PNG Power Limited (PPL) on the project which is aimed at connecting up to one million people to a larger electricity grid by 2030.
InterOil has started drilling on a side-track well at the Antelope-4 site, as part of its appraisal campaign on the Elk–Antelope gas field in Papua New Guinea.
Total has completed the transfer of operations of the Papua LNG Project in New Guinea from national operator Oil Search.
Oil Search has increased its production targets after achieving a record quarterly output in the second quarter of the year. The company said it now expects its production to be between 27 and 29mmboe (million barrels of oil equivalent). A previous estimate by the Papua New Guinea focused oil and gas producer had been between 26 and 28mmboe.
ExxonMobil has signed a Memorandum of Understanding (MOU) to supply natural gas to power plants in Papua New Guinea. The company said it would begin preparations this year to drill an appraisal well at the P’nyang field, which is co-owned by Oil Search. ExxonMobil said the reserves could “enable expansion of the PNG LNG project which could include the development of a possible additional train”.