PNG Awards 5 Unconventional Exploration Licenses to South Pacific Resources

Australia's South Pacific Resources Ltd., a Papua New Guinea (PNG) -focused conventional and unconventional oil and gas exploration company, reported Monday that the company's 75-percent owned subsidiaries in the country have lodged applications for five unconventional hydrocarbon prospecting licenses, covering 28,958 square miles (75,000 square kilometers), encompassing all of the prospective areas identified in its country-wide screening.

The prospective areas covers the shales surrounding the Foldbelt oil and gas fields; the Hidesm Juha and P'Nyang gas fields; the Elk/Antelope/Triceratops gas discoveries; the proposed Stanley liquefied natural gas (LNG) project in Western Provinces; and the Foreland area.

"In recognition of the Company's significant, yet incomplete preliminary work over many years, (Petroleum and Energy) Minister Micah has reserved all of the graticular blocks contained in the five applications exclusively for the Company. This is to ensure certainty of the application areas while the license applications are being processed by the Department without fear of competition, while also allowing for ongoing exploration and early drilling to be undertaken," South Pacific Resources said in the press release.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: South Pacific Resources Ltd. (South Pacific)more info
 - PNG Awards 5 Unconventional Exploration Licenses to South Pacific Resources (Jul 4)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Baron Oil, SundaGas Form JV to Explore... (Sep 26)
 -  Aminex Secures Rig to Drill Ntorya-2 W... (Sep 26)
 -  Aker Solutions Lets Employees Buy Comp... (Sep 26)
 -  Lamprell Secures Services Contract wit... (Sep 26)
 -  Swire Oilfield Services Appoints New C... (Sep 26)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager I
Expertise: Corrosion Engineering|Pipe Inspection / NDT|Project Management
Location: San Diego, CA
 
Regional Director, Construction and Line Operations (Amarillo, TX) Job
Expertise: Construction Manager|Operations Management|Risk Management
Location: Amarillo, TX
 
Regional Director, Construction and Line Operations (Denver, CO) Job
Expertise: Construction Manager|Operations Management|Risk Management
Location: Henderson, CO
 
search for more jobs

Brent Crude Oil : $45.89/BBL 3.69%
Light Crude Oil : $44.48/BBL 3.97%
Natural Gas : $2.96/MMBtu 1.00%
Updated in last 24 hours