Asset Report
Kutubu Area
Report summary
The Kutubu Area is a group of oil fields, in the Southern Highlands of Papua New Guinea. The project was the first petroleum development in the country. Oil is processed on site, and then transported via a 261-kilometre pipeline to an offshore export terminal located in the Gulf of Papua. Oil production started in early 1992 and peaked in 1993, averaging around 125,000 b/d. Production stayed above 100,000 b/d until 1997, at which point it declined sharply. Infill drilling and well workovers have reduced the rate of decline since 2001. Historically, all produced gas was re-injected, but from 2014 has been supplied to Papua New Guinea LNG, with the balance of produced gas reinjected into the reservoirs to maintain pressure and enhance oil recovery.
Table of contents
- Key facts
-
Summary and key issues
- Summary
- Key issues
- Location maps
-
Participation
- Government Participation
- Well data
-
Reserves and resources
- Oil
- Gas
-
Production
- Oil
-
Development
-
Key development metrics
- Additional Information
- Pipeline/Terminal
- Field Facilities
- Gas Reinjection / Secondary Recovery
- Development Drilling
- PNG LNG
-
Key development metrics
- Infrastructure
-
Costs
- Capital Costs
- Exploration Costs
- Operating Costs
-
Fiscal and regulatory
-
State Nominee
- APT
- Royalty and Royalty Tax
- PNG LNG State Gas Agreement
-
State Nominee
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Global Economic Model (GEM) file
- Economic analysis
Tables and charts
This report includes 23 images and tables including:
- Key facts: Table 1
- Index Map
- Kutubu Area Detail Map
- Participation: Table 1
- Well data: Table 1
- Well data: Table 2
- Well data: Table 3
- Well data: Table 4
- Infrastructure: Table 1
- Cash Flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2024)
- Remaining Present Value Price Sensitivities
- Reserves and resources: Table 1
- Production: Table 1
- Production: Table 2
- Production Profile
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
What's included
This report contains:
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