EXPLORATION

PNG gas survey almost done: Cue

A CONSORTIUM of Australian Stock Exchange-listed companies led by Santos has nearly completed a field survey over the Barikewa gas field in Papua New Guinea permit PRL-09.

PNG gas survey almost done: Cue

In a statement today, junior partner Cue Energy said the survey, which comprises seven geological traverses covering 40km, was designed to provide a better structural picture of the field and thus a narrower range of potential recoverable gas volumes.

To date, Barikewa is assessed to contain about 800 billion cubic feet of recoverable gas. But Cue has previously said the field was favourably located to provide gas feedstock to a future chemical plant.

The field is about 3km from the proposed route of the ill-fated PNG-Queensland gas pipeline.

Operator Santos and Oil Search each hold a 42.553% interest in the field, in partnership with Cue Energy (14.894%).

The joint venture’s five-year lease is due to expire later next year.

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