Asset Report

Papua New Guinea Papuan exploration basin

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30 December 2019

Papua New Guinea Papuan exploration basin

Report summary

Despite demanding terrain and remoteness, the gas-prone Papua New Guinea (PNG) Papuan Basin has a long exploration history. Over 6.1 billion of barrels equivalent have been discovered from the basin, over 80% of which were gas. PNG's domestic hydrocarbon demand is low, therefore the economics of exploration in the basin is heavily linked to the success of the onstream PNG LNG, its extension and proposed Papua LNG project. This report provides a detailed analysis of exploration in this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. We evaluate the yet-to-find volume and value potential.

Table of contents

  • Key issues include
  • Wells drilled
  • Basin success rates
  • Volumes discovered
  • Prospective resource potential
    • Creaming curve and key play data
  • Tertiary Deepwater
  • Model field pool size distribution
  • Existing discoveries and modelled prospective resource pool size distribution
  • Prospective resource costs and underlying development assumptions
  • Licensing
  • Fiscal terms
  • Oil and gas prices
  • TYP economics
    • Development value
    • Onshore Highlands
    • Onshore Lowlands
    • Tertiary Shelf
    • Tertiary Deepwater
    • Onshore Highlands
    • Onshore Lowlands
    • Tertiary Shelf
    • Tertiary Deepwater
  • Expected monetary value (EMV)
  • Play economics
  • Full cycle basin economics

Tables and charts

This report includes 74 images and tables including:

  • Commerciality index
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Key well operators
  • Key play characteristics
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin Creaming Curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by play (outlook)
  • Tertiary Deepwater
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Tertiary Deepwater
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Tertiary Deepwater
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Tertiary Deepwater
  • Recent Discovery Costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average depth
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Tertiary Deepwater
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Tertiary Deepwater
  • Onshore Highlands
  • Onshore Lowlands
  • Tertiary Shelf
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

What's included

This report contains:

  • Document

    Papua New Guinea_Papuan.zip

    ZIP 6.75 MB

  • Document

    Papua New Guinea Papuan exploration basin

    PDF 2.40 MB

  • Document

    Papua New Guinea Papuan exploration basin

    ZIP 9.00 MB

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