Exploration continues at Elk-Antelope and Triceratops
By RUSSELL SEARANCKE Singapore
04 April 2014 00:00 GMT
InterOil is busy drilling exploration wells in the Elk-Antelope and Triceratops areas in Papua New Guinea as it seeks to boost reserves for a potential liquefied natural gas project, writes Russell Searancke.
Three wells are being drilled concurrently — Bobcat-1 in Block PPL 238, Wahoo-1 in PPL 236 and Raptor-1 in PPL 237.
InterOil aims to drill up to five more exploration and appraisal wells in the coming 12 to 15 months as part of a $300 million campaign.
InterOil said PPLs 236, 237 and 238 have been renewed for six years under four new permits called PPLs 474, 475, 476 and 477, each valid for six years.
Papua New Guinea’s recently-appointed Minister for Petroleum & Energy, Nixon Duban, said: “We are excited at the potential of these exploration licences and the wealth that could be unlocked. We hope the results live up to expectations. And we look forward to a mutually beneficial partnership with InterOil for many years to come.”
InterOil’s chief executive Michael Hession said: “We take great pride in providing work for more than 1100 people in seismic and drilling, with another 300 expected to be taken on later this year.”
