UMC: Papua New Guinea Seismic Survey Complete

Papua New Guinea-focused junior explorer UMC Energy reported Monday that the Dong Fang Kan Tan No. 1 seismic acquisition vessel has recorded approximately 1,870 miles of 2D seismic over the PPL374 and PPL375 licenses, offshore PNG.

The licenses are held by Gini Energy – a joint venture with CNOOC in which UMC holds a 30-percent stake. CNOOC is the operator of the licenses and it has funded the entire cost of the seismic survey, which was completed on January 3.

UMC Energy Technical Director Chris Hart commented in a company statement:

"The 2D acquisition project was completed without incident and ahead of schedule.  Processing of the 2D data is expected to be undertaken by CNOOC over the coming months."  

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