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+--- Thread: There is a perfect time for a dry hole (/showthread.php?tid=1141)
There is a perfect time for a dry hole - Tree - 07-19-2012
Hides drilling imminent
Thursday, 19 July 2012
EXXONMOBIL is preparing to spud the first Hides production well under the $US15.7 billion PNG LNG project. Construction is advancing at the project’s other upstream locations.
Rig 702 at the Hides Well Pad B. Image courtesy of Santos.
Well pad B is complete and an ExxonMobil spokesperson said four other well pads are at various stages of construction.
Creatively named Hides B-1 at this stage, Santos unveiled an image of the well site in its recent quarterly and said the rig-up was virtually complete.
Santos expects it to spud this month while the Exxon spokesperson indicated that the next announcement is a week or so away.
The drilling will be operated by Nabors Drilling International using its new modular Rig 702. The Clough Curtain Joint Venture is in charge of developing the well pads, spineline and related infrastructure.
Located in Papua New Guinea’s Hela province in the wider Southern Highlands region, Hides is a key field underpinning the project and already provides the gas used to produce electricity for Barrick Gold’s Porgera mine.
Meanwhile, Santos said the offshore pipelay is complete while more than 180km of the 292km onshore pipeline has been welded.
The PNG LNG partner said bulk earthworks is continuing at the project’s Komo Airfields site and pavement is underway.
“At the LNG plant site, pipe racks, pipe and heavy equipment are being installed on the LNG trains,” Santos said.
“Piling on the jetty is also complete, and the roofs of both LNG tanks have been lifted.”
The 6.6 million tonne per annum, two train PNG LNG project remains on track for first production in 2014.
The PNG LNG consortium consists of ExxonMobil (33.2%), Oil Search (29%), state-owned National Petroleum Company of PNG (16.6%), Santos (13.5%) JX Nippon (4.7%), landowner interest manager Mineral Resources Development Company (2.8%) and state-owned Petromin (0.2%).
RE: There is a perfect time for a dry hole - strategyguy536 - 07-20-2012
Dry hole, indeed. I like your thinking.
RE: There is a perfect time for a dry hole - ArtM72 - 07-20-2012
Methinks you have a mean streak in you.