The Kimu field was discovered three years ago and has estimated recoverable reserves in excess of one trillion cubic feet of gas.
The joint venture partners in the gas field include Oil Search (44.64% - operator), Mosaic Oil Nuigini (28.57%), Omati Oil (10.72%) and Gedd PNG (16.07%).
The Government also awarded a five year retention licence over the Barikewa gas field, which is estimated to contain recoverable gas volumes in excess of 800 billion cubic feet.
Barikewa is located about 3km from the proposed route of the PNG-to-Queensland gas pipeline. The partners in the field include Santos (42.553% - operator), Oil Search (42.553%) and Cue PNG Oil Company (14.894%).
