Abstract
Papua New Guinea Oil and Gas Exploration and Production Industry Investment
Opportunities, Analysis and Forecasts of All Active and Planned Exploration
Blocks and Oil and Gas Fields to 2012
Summary
This profile is the essential source for top-level industry data and
information relating to the Exploration and Production industry in Papua New
Guinea. It provides asset level information relating to the active and planned
oil and gas fields and exploration blocks in Papua New Guinea. The profiles of
the major companies operating in the upstream industry of Papua New Guinea are
also included in the report. The latest news and deals pertaining to the
sector are also provided and analyzed.
Scope
・ Updated information relating to all active and planned exploration
blocks.
・ Provides historical and forecast data and information for all
the major operating and planned crude oil and natural gas fields.
・
Details operators and equity partners of oil and gas fields and exploration
blocks.
・ Includes information relating to license round details, start
and end dates, acreage, location, and reserves.
・ Information on the top
companies in the sector including business description, strategic analysis,
and financial information.
・ Product and brand updates, strategy changes,
R&D projects, corporate expansions and contractions and regulatory
changes.
・ Key mergers and acquisitions, partnerships, private equity
investments and IPOs.
Reasons to buy
・ Obtain the most up to date information available on exploration licenses and
oil and gas fields.
・ Identify growth markets and opportunities in the
industry.
・ Facilitate market analysis and forecasting of future industry
trends.
・ Facilitate decision making on the basis of strong historic and
forecast data data.
・ Assess your competitor' s exploration and production
asset portfolio.
・ Understand and respond to your competitors business
structure, strategy and prospects.
・ Develop strategies based on the
latest operational, financial, and regulatory events.
・ Do deals with an
understanding of how competitors are financed, and the mergers and
partnerships that have shaped the market.
・ Identify and analyze the
strengths and weaknesses of the leading companies.
Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Papua New Guinea, Country Snapshot 11
2.1 Papua New Guinea, Key Data
11
2.2 Papua New Guinea, Exploration and Production Assets Map 12
3
Papua New Guinea, Crude Oil And Natural Gas Production 13
3.1 Papua New
Guinea, Historical Crude Oil Production 13
3.2 Papua New Guinea,
Historical Natural Gas Production 14
3.3 Papua New Guinea, Crude Oil and
Natural Gas Producing Asset Details 15
3.4 Papua New Guinea, Crude Oil
Producing Assets by Area 16
3.5 Papua New Guinea, Natural Gas Producing
Assets by Area 16
3.6 Papua New Guinea, Planned Production Assets Details
17
3.7 Papua New Guinea, Crude Oil Production by Company 17
3.8 Papua
New Guinea, Natural Gas Production by Company 18
4 Papua New Guinea, Crude
Oil And Natural Gas Forecasts 19
4.1 Papua New Guinea, Forecasted Crude
Oil Production 19
4.2 Papua New Guinea, Forecasted Natural Gas Production
19
4.3 Papua New Guinea, Forecasted Crude Oil Production of Key Assets
20
4.4 Papua New Guinea, Forecasted Natural Gas Production of Key Assets
20
4.5 Papua New Guinea, Forecasted Asset Wise Gross Revenues 21
4.6
Papua New Guinea, Forecasted Asset Wise Total Government Take 21
4.7 Papua
New Guinea, Forecasted Asset Wise Income Tax 22
4.8 Papua New Guinea,
Forecasted Asset Wise Contractor Take 22
5 Papua New Guinea, Exploration
Block Details 23
5.1 Papua New Guinea, Total Number of Active Exploration
Blocks 23
5.2 Papua New Guinea, Total Number of Active Exploration Blocks
by Company 24
5.3 Papua New Guinea, Exploration Blocks Details 25
5.4
Papua New Guinea, Planned Exploration Blocks Details 28
6 Oil Search
Limited 29
6.1 Oil Search Limited, Key Information 29
6.2 Oil Search
Limited, Company Overview 29
6.3 Oil Search Limited, Business Description
29
6.3.1 Oil Search Limited, Business Description, Business Overview
29
6.4 Oil Search Limited, Value Chain Analysis 30
6.4.1 Oil Search
Limited, Value Chain Analysis, Upstream 30
6.4.2 Oil Search Limited, Value
Chain Analysis, Midstream 31
6.5 Oil Search Limited, SWOT Analysis 31
6.5.1 Oil Search Limited, SWOT Analysis, Overview 31
6.5.2 Oil Search
Limited, SWOT Analysis, Oil Search Limited Strengths 32
6.5.3 Oil Search
Limited, SWOT Analysis, Oil Search Limited Weaknesses 32
6.5.4 Oil Search
Limited, SWOT Analysis, Oil Search Limited Opportunities 33
6.5.5 Oil
Search Limited, SWOT Analysis, Oil Search Limited Threats 33
6.6 Oil
Search Limited, Revenue Analysis 34
6.6.1 Oil Search Limited, Revenue
Analysis, Revenue by Segment 34
6.6.2 Oil Search Limited, Revenue
Analysis, Revenue by Geography 34
6.7 Oil Search Limited, Financial and
Operational Review 36
6.7.1 Oil Search Limited, Financial and Operating
Review, Financial Statements 36
6.7.2 Oil Search Limited, Financial and
Operating Review, Financial Ratios 37
6.8 Oil Search Limited, Operational
Indicators 38
7 Chevron Corporation 39
7.1 Chevron Corporation, Key
Information 39
7.2 Chevron Corporation, Company Overview 39
7.3
Chevron Corporation, Business Description 39
7.3.1 Chevron Corporation,
Business Description, Business Overview 39
7.4 Chevron Corporation, Value
Chain Analysis 40
7.4.1 Chevron Corporation, Value Chain Analysis,
Upstream 40
7.4.2 Chevron Corporation, Value Chain Analysis, Midstream
41
7.4.3 Chevron Corporation, Value Chain Analysis, Retail 42
7.4.4
Chevron Corporation, Value Chain Analysis, Power Generation 42
7.4.5
Chevron Corporation, Value Chain Analysis, Transformation 43
7.5 Chevron
Corporation, SWOT Analysis 44
7.5.1 Chevron Corporation, SWOT Analysis,
Overview 44
7.5.2 Chevron Corporation, SWOT Analysis, Strengths 44
7.5.3 Chevron Corporation, SWOT Analysis, Weaknesses 45
7.5.4 Chevron
Corporation, SWOT Analysis, Opportunities 46
7.5.5 Chevron Corporation,
SWOT Analysis, Threats 47
7.6 Chevron Corporation, Revenue Analysis 49
7.6.1 Chevron Corporation, Revenue Analysis, Revenue by Segment 49
7.6.2
Chevron Corporation, Revenue Analysis, Revenue by Geography 49
7.7 Chevron
Corporation, Financial and Operational Review 50
7.7.1 Chevron
Corporation, Financial and Operating Review, Financial Statements 50
7.7.2
Chevron Corporation, Financial and Operating Review, Financial Ratios 51
7.8 Chevron Corporation, Operational Indicators 52
8 Exxon Mobil
Corporation 53
8.1 Exxon Mobil Corporation, Key Information 53
8.2
Exxon Mobil Corporation, Company Overview 53
8.3 Exxon Mobil Corporation,
Business Description 53
8.3.1 Exxon Mobil Corporation, Business
Description, Business Overview 53
8.4 Exxon Mobil Corporation, Value Chain
Analysis 54
8.4.1 Exxon Mobil Corporation, Value Chain Analysis, Upstream
54
8.4.2 Exxon Mobil Corporation, Value Chain Analysis, Midstream 55
8.4.3 Exxon Mobil Corporation, Value Chain Analysis, Downstream 56
8.4.4
Exxon Mobil Corporation, Value Chain Analysis, Retail 56
8.5 Exxon Mobil
Corporation, SWOT Analysis 57
8.5.1 Exxon Mobil Corporation, SWOT
Analysis, Overview 57
8.5.2 Exxon Mobil Corporation, SWOT Analysis, Exxon
Mobil Corporation Strengths 57
8.5.3 Exxon Mobil Corporation, SWOT
Analysis, Exxon Mobil Corporation Weaknesses 59
8.5.4 Exxon Mobil
Corporation, SWOT Analysis, Exxon Mobil Corporation Opportunities 60
8.5.5
Exxon Mobil Corporation, SWOT Analysis, Exxon Mobil Corporation Threats 62
8.6 Exxon Mobil Corporation, Revenue Analysis 63
8.6.1 Exxon Mobil
Corporation, Revenue Analysis, Revenue by Segment 63
8.6.2 Exxon Mobil
Corporation, Revenue Analysis, Revenue by Geography 64
8.7 Exxon Mobil
Corporation, Financial and Operational Review 65
8.7.1 Exxon Mobil
Corporation, Financial and Operational Review, Financial Statements 65
8.7.2 Exxon Mobil Corporation, Financial and Operational Review, Financial
Ratios 66
8.8 Exxon Mobil Corporation, Operational Indicators 67
9
Papua New Guinea Exploration and Production Industry, Deals Landscape 68
9.1 Acquisition 68
9.1.1 Cheetah Oil & Gas Acquires 98.64% Stake In Scotia
Petroleum 68
9.1.2 Chevron Completes Sale Of Chevron Niugini To Oil Search
69
9.2 Partnership 71
9.2.1 Santos Enters Into An Agreement With
ExxonMobil, Oil Search, Nippon Oil, AGL and MRDC 71
9.3 Asset Transactions
74
9.3.1 Sasol Petroleum International Acquires Majority Stake In Natural
Gas Exploration Licenses 74
9.3.2 Eaglewood Energy Acquires Petroleum
Licences From Transeuro Energy 74
9.3.3 Transeuro Energy Acquires
Petroleum Prospecting License (PPL 260) From Rockwell Explorations 76
9.3.4 Austral Pacific Signs Farm Out Agreement With Rift Oil 78
9.3.5
Austral Pacific Energy To Sell Assets To Horizon Energy 79
9.3.6 AGL
Energy To Sell Its PNG Assets 80
9.3.7 Austral Pacific Energy To Sell Its
Interest In Petroleum Prospecting Licenses 235 and 261 To Foreland Oil 81
9.3.8 InterOil To Sell PNG Interests To Horizon Oil 82
10 Papua New Guinea
Exploration and Production Industry,Recent Developments 85
10.1 License
Awards 85
10.1.1 May 12, 2008: Oil Search Signs PSC With KRG For Shakal
Block 85
10.2 Recent Discoveries 86
10.2.1 Jul 28, 2008: Interoil To
Complete Elk-4 Appraisal Well As Gas And Condensate Producer 86
10.2.2 Jul
22, 2008: Rift Updates On Puk Puk-1 Well In Papua New Guinea 86
10.2.3 Jul
03, 2008: Rift Finds Gas At PUK PUK-1 Well In PNG 87
10.2.4 May 01, 2008:
InterOil Announces Gas Discovery 87
10.3 Drilling and Production Updates
88
10.3.1 Sep 04, 2008: InterOil' s ELK-4 Gas Well Records Flow Of 105
Mmscf 88
10.3.2 Aug 26, 2008: Oil Search Updates On Cobra 1A ST3 Well,
Papua New Guinea 88
10.3.3 Aug 25, 2008: InterOil Announces Increased Gas
Flow Rate At ELK-4 Well In Papua New Guinea 88
10.3.4 Aug 21, 2008: Oil
Search Updates On Cobra 1A ST3 Well, Papua New Guinea 89
10.3.5 Aug 05,
2008: InterOil' s Elk-4 Well In Papua New Guinea Establishes A Gas Flow Rate Of
63 Mmscf/d 89
10.3.6 Jul 28, 2008: Oil Search Updates On Cobra 1A ST1 &
ST2, PNG 89
10.3.7 Jul 14, 2008: Cue Energy Updates On Cobra -1A Well
90
10.3.8 Jul 10, 2008: Oil Search Updates On Cobra 1A Well In SE Gobe Oil
Field 91
10.3.9 Jul 08, 2008: Rift Updates On Puk Puk-1 Well In Papua New
Guinea 91
10.3.10 Jun 26, 2008: Oil Search Updates On Cobra 1A Well 91
10.3.11 Jun 10, 2008: InterOil Updates On ELK-4 Well 92
10.3.12 Jun 05,
2008: Oil Search Updates On NW Paua 1 ST3 Well 92
10.3.13 May 28, 2008:
InterOil Updates On Elk--4 Well 93
10.3.14 May 23, 2008: Rift Updates On
Puk Puk-1 Well, Papua New Guinea 94
10.3.15 May 15, 2008: Oil Search
Provides Drilling Update 94
10.3.16 May 08, 2008: Oil Search Updates On NW
Paua 1 ST3 And Cobra 1A Wells 95
10.3.17 May 06, 2008: Rift Updates On Puk
Puk-1 Well 95
10.3.18 May 01, 2008: Oil Search Provides Operational Update
96
10.3.19 Apr 24, 2008: Oil Search Provides Drilling Update 97
10.3.20 Apr 22, 2008: Oil Search Provides Q1 2008 Production Update 97
10.3.21 Apr 18, 2008: Cue Energy Updates On Cobra -1A Well 99
10.3.22 Apr
17, 2008: Oil Search Provides Operational Update 99
10.3.23 Mar 20, 2008:
Oil Search Updates On NW Paua 1 ST2 Well 100
10.3.24 Mar 13, 2008: Oil
Search Updates On Its Operations 101
10.3.25 Mar 06, 2008: Oil Search
Provides Operational Update 102
10.3.26 Feb 19, 2008: Oil Search Updates
On Year End 2007 Reserves 102
10.3.27 Feb 14, 2008: Oil Search Provides
Operational Updates 103
10.3.28 Jan 17, 2008: Oil Search Provides Drilling
Updates 104
10.3.29 Jan 03, 2008: Oil Search Updates On NW Paua 1 And
Salma-1 Well 105
10.3.30 Dec 27, 2007: Oil Search Continues Drilling At Nw
Paua 1 Well 106
10.3.31 Nov 15, 2007: InterOil Spuds Elk-4 Appraisal Well,
Papua New Guinea 106
10.3.32 Oct 25, 2007: Oil Search Updates On Raheek-1,
West Zeit-X1 Wells 106
10.3.33 Sep 27, 2007: Oil Search Updates On Thoub-1
Well 107
10.3.34 Sep 13, 2007: Oil Search Updates On Reeb-1 Well 107
10.4 Financial Announcements 107
10.4.1 Aug 18, 2008: Oil Search Reports
1H 2008 Results 107
10.4.2 Aug 18, 2008: Oil Search Declares 2008 Interim
Dividend 109
10.4.3 Feb 19, 2008: Oil Search Declares Final Dividend
109
10.4.4 Jan 29, 2008: Oil Search Declares Q4 2007 Results 109
10.4.5 Oct 23, 2007: Oil Search Declares Q3 2007 Results 109
10.5 Other
Significant Developments 111
10.5.1 Aug 07, 2008: Rift Doubles Gas
Potential Estimates In Puk Puk-1 Well, Papua New Guinea 111
10.5.2 Jul 31,
2008: Cheetah Announces Management Change 111
10.5.3 Jul 18, 2008: Horizon
Oil Reports On Papua New Guinea Activities 111
10.5.4 May 29, 2008: Oil
Search Updates On NW Paua 1 ST3 And Cobra 1A Wells 112
10.5.5 Mar 25,
2008: ARC Energy Says Yemen Government Ratifies Two Onshore Blocks 113
10.5.6 Nov 15, 2007: InterOil Spuds Elk-4 Appraisal Well, Papua New Guinea
113
10.5.7 Sep 13, 2007: Oil Search Temporarily Shut Down Nabrajah Field
113
10.6 New Contracts Announcements 113
10.6.1 Feb 14, 2008:
Transocean To Explore Wells In Indonesia 113
11 Appendix 114
11.1
Methodology 114
11.1.1 Coverage 115
11.1.2 Secondary Research 115
11.1.3 Primary Research 116
11.1.4 Forecasts 116
11.2 Exploration and
Appraisal (E&A) Costs 118
11.3 Key Economic Assumptions 119
11.4
Expert Panel Validation 120
11.5 Definitions 120
11.6 Unit Of Measure
121
11.7 Disclosure information 121
11.8 Contact Us 121
11.9
Disclaimer 122
1.1 List of Tables
Table 1: Papua New Guinea, Oil
and Gas, Key Statistics, April 2008 11
Table 2: Papua New Guinea, Total
Crude Oil Production (MMBBLs), 2000-2007 13
Table 3: Papua New Guinea,
Total Natural Gas Production (BCF), 2000-2007 14
Table 4: Papua New
Guinea, Oil and Gas Asset Details, April 2008 15
Table 5: Papua New Guinea
Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 16
Table 6: Papua New Guinea Onshore, Total Natural Gas Production (MMCF), by
Assets, 2000-2007 16
Table 7: Papua New Guinea, Oil and Gas Planned
Production Assets Details, April 2008 17
Table 8: Papua New Guinea, Total
Crude Oil Production (MMBBLs), by Company, 2000-2007 17
Table 9: Papua New
Guinea, Total Natural Gas Production (BCF), by Company, 2000-2007 18
Table
10: Papua New Guinea, Total Crude Oil Production (MMBBLs), Forecast, 2008-
2013 19
Table 11: Papua New Guinea, Total Natural Gas Production (BCF),
Forecast, 2008- 2013 19
Table 12: Papua New Guinea, Total Crude Oil
Production (Barrels), Forecast by Assets, 2008- 2013 20
Table 13: Papua
New Guinea, Total Natural Gas Production (MMCF), Forecast by Assets, 2008-
2013 20
Table 14: Papua New Guinea, Forecasted Asset-wise Gross Revenue
(000' $), 2008-2013 21
Table 15: Papua New Guinea, Forecasted Asset-wise
Gross Revenue (000' $), 2008-2013 21
Table 16: Papua New Guinea, Forecasted
Asset-wise Income Tax (000' $), 2008-2013 22
Table 17: Papua New Guinea,
Forecasted Asset-wise Total Contractor Take (000' $), 2008-2013 22
Table
18: Papua New Guinea, Total Number of Active Exploration Blocks, 2000-2007
23
Table 19: Papua New Guinea, Total Number of Active Exploration Blocks,
by Company, 2000-2007 24
Table 20: Papua New Guinea, Oil and Gas
Exploration Blocks Details, April 2008 25
Table 21: Papua New Guinea, Oil
and Gas Exploration Blocks Details, April 2008 (Cont' d) 26
Table 22: Papua
New Guinea, Oil and Gas Exploration Blocks Details, April 2008 (Cont' d) 27
Table 23: Papua New Guinea, Oil and Gas Exploration Blocks Details, April 2008
(Cont' d) 28
Table 24: Papua New Guinea, Oil and Gas Planned Exploration
Blocks Details, April 2008 28
Table 25: Oil Search Limited, Key
Facts, 2006 29
Table 26: Oil Search Limited, SWOT Analysis, 2006
31
Table 27: Oil Search Limited, Revenue by Segment, USD Thousands,
2002-2006 34
Table 28: Oil Search Limited, Revenue by Geography, USD
Thousands, 2002-2006 35
Table 29: Oil Search Limited, Financial
Statements, USD Thousands, 2002-2006 36
Table 30: Oil Search Limited,
Financial Ratios, USD Thousands, 2002-2006 37
Table 31: Oil Search
Limited Operational Indicators, 2002-2006 38
Table 32: Chevron
Corporation, Key Facts, 2006 39
Table 33: Chevron Corporation, SWOT
Analysis, 2006 44
Table 34: Chevron Corporation, Revenue by Segment,
USD Million, 2002-2006 49
Table 35: Chevron Corporation, Revenue by
Geography, USD Million, 2002-2006 50
Table 36: Chevron Corporation,
Financial Statements, USD Million, 2002-2006 50
Table 37: Chevron
Corporation, Financial Ratios, USD Million, 2002-2006 51
Table 38:
Chevron Corporation Operational Indicators, 2002-2006 52
Table 39:
Exxon Mobil Corporation, Key Facts, 2007 53
Table 40: Exxon Mobil
Corporation, SWOT Analysis, 2007 57
Table 41: Exxon Mobil
Corporation, Revenue by Segment, USD Million, 2002-2006 63
Table 42:
Exxon Mobil Corporation, Revenue by Geography, USD Million, 2002-2006 64
Table 43: Exxon Mobil Corporation, Financial Statements, USD Million,
2002-2006 65
Table 44: Exxon Mobil Corporation, Financial Ratios, USD
Million, 2002-2006 66
Table 45: Exxon Mobil Corporation Operational
Indicators, 2002-2006 67
Table 46: Brent Blend NYMEX Future Prices 119
1.2 List of Figures
Figure 1: Papua New Guinea, Exploration and
Production Assets Map, April 2008 12
Figure 2: Papua New Guinea, Total
Crude Oil Production (MMBBLs), 2000-2007 13
Figure 3: Papua New Guinea,
Total Natural Gas Production (BCF), 2000-2007 14
Figure 4: Papua New
Guinea, Total Number of Active Exploration Blocks, 2000-2007 23
Figure 5:
Oil Search Limited, Value Chain Analysis 30
Figure 6: Chevron
Corporation, Value Chain Analysis 40
Figure 7: Exxon Mobil
Corporation, Value Chain Analysis 54
Figure 8: Global Markets Direct
Methodology 114
