Kina exploration advances, despite weather

KINA Petroleum is readying its drilling rig in Madang as part of its exploration efforts in Papua New Guinea, despite adverse weather conditions posing access problems at the drill sites.
Kina exploration advances, despite weather Kina exploration advances, despite weather Kina exploration advances, despite weather Kina exploration advances, despite weather Kina exploration advances, despite weather

The company said heavy rainfall during the first quarter of this year have affected access roads but added that improving conditions had allowed engineering crews to carry out repairs, enabling a rig and other equipment to get to the sites.

Managing director Richard Schroder said drilling would focus on the PPL 337 and PPL 338 licences, but other targets would be pursued in the future.

"The exploration programs now being undertaken are located in either relatively underexplored areas of Papua New Guinea, or in the case of PPL 338, proven play fairways," he said.

"In the case of PPL 337, the drilling that is shortly to commence will target gas and, in the event of success, will be high-impact given the commercialisation options that exist in the Madang region and surrounding areas.

"In PPLs 435 and 436, the data has indicated sub-surface architecture capable of hosting large-scale structures whose hydrocarbon potential would be tested in future seismic and drilling programs.

"We are delighted that we are able to progress this activity in the current oil price environment and look forward to the imminent commencement of drilling in PPL 337 in particular."

The program is part of a farm-in agreement between Kina Petroleum and Heritage Oil.

loader

Most read Regions

  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more

Most read Regions