Oil Search operates all of PNG's producing oil fields, which commenced production in the 1990s.
Since acquiring operatorship of these mature fields in 2003, we have optimised production through new development wells, workovers and active reservoir management, together with achieving an overall reduction in facility downtime. In addition, we have successfully mitigated the production decline rate for these fields and added to reserves through an active development drilling program.
The PNG oil fields contain significant gas reserves, with approximately 20 per cent of the total gas feedstock for the PNG LNG Project supplied from our Associated Gas fields, including:
- Gobe Main
We are also responsible for operating the liquids export system, which handles our operated oil production and liquids associated with the PNG LNG Project. Work on extending the operating life of key facilities, including Kumul Marine Terminal and the export line, which were completed as part of the PNG LNG Project development, has increased the reliability of our PNG operations, which is integral to meeting the Company's PNG LNG obligations.