Country report

Papua New Guinea upstream summary

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Report summary

Papua New Guinea (PNG) has emerged as a global LNG player after PNG LNG started production in 2014. The US$18.8 billion project is the largest investment in the sector. Preceding this, commercial gas supplies were limited to domestic contracts from the Hides field. PNG will produce over 950 mmcfd of gas from 2015. PNG has traditionally been an oil province with production beginning in 1992 from the Iagifu-Hedinia field, part of the Kutubu development area. Liquids production from Kutubu ...

What's included

This report contains

  • Document

    Country Overview

    PDF 2.45 MB

  • Document

    Country Overview

    XLS 985.50 KB

  • Document

    Country Overview

    ZIP 3.30 MB

  • Document

    Executive summary

    PDF 102.13 KB

  • Document

    Key facts

    PDF 66.32 KB

  • Document

    Location maps

    PDF 714.73 KB

  • Document

    Key companies

    PDF 102.11 KB

  • Document

    Geology

    PDF 744.73 KB

  • Document

    Exploration

    PDF 134.22 KB

  • Document

    Reserves and resources

    PDF 110.22 KB

  • Document

    Production

    PDF 116.95 KB

  • Document

    Infrastructure

    PDF 804.51 KB

  • Document

    Policy and regulation

    PDF 93.11 KB

  • Document

    Fiscal terms

    PDF 168.25 KB

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
    • Papuan basin
    • North New Guinea Basin
    • New Ireland Basin
    • Bougainville Basin
    • Cape Vogel Basin
      • 1980s and 1990s
      • 2000s
      • 2010s
      • Drilling activity
      • Pre-1990
      • 1990s
      • 2000s
      • 2010s
      • Success rates
    • Commercial Reserves
    • Technical Reserves
    • Oil/Condensate
    • Gas
    • Key legislation
    • Regulatory body
    • State oil company
      • Carry & Reimbursement
      • Free Landowner Equity
      • Licence Types
      • Petroleum Prospecting Licence
      • Petroleum Development Licence
      • Petroleum Retention Licence
      • Pipeline Licence
      • Petroleum Processing Facility Licence
    • Current fiscal terms
      • Royalty and other production taxes
      • Royalty
      • Export duty
      • Environmental / CO2 taxes
      • Other Production Taxes
      • Indirect taxes
      • VAT / Sales Taxes
      • Import duties
      • Social development levies
      • Development Levy
      • Corporate (or Petroleum) Income Tax
      • Tax Rate
      • Taxable Income
      • Investment uplift/credit
      • Loss Carried Forward
      • Dividend Withholding Tax
      • Additional Profits Tax (APT)
      • Ring Fencing
      • Domestic Market Obligation (DMO)
      • Contractor Revenue Entitlement
      • Liquids Pricing
      • Natural Gas Pricing
      • Bonuses, rentals and fees
      • 1990s
      • State Nominee / PRK / Orogen Minerals (1990-1996)
      • Orogen Option Agreement (1996-2002)
      • APT abolished for all new projects (2003)
      • PNG LNG Gas Agreement (2008)
      • Key Assumptions
      • Marginal Government Take
      • Oil Terms
      • Gas Terms
      • PNG LNG Gas Agreement

Tables and charts

This report includes 39 images and tables including:

Images

  • Liquids and Gas Production 2016
  • Gas Production (1990-2020)
  • Remaining Commercial and Technical Reserves at 01/01/2017
  • Country Map
  • Liquids and Gas Production 2016
  • Remaining Commercial and Technical Reserves at 01/01/2017
  • Net Acreage 2017
  • Papua New Guinea: Map of Main Geological Elements and Sedimentary Basins
  • Remaining and Produced Liquids and Gas Reserves at 1/1/2016
  • Liquids Production (1992-2022)
  • Gas Production (1990-2020)
  • Location Map
  • Licence Activity
  • Exploration Drilling by Basin (1970-1999)
  • Drilling Activity by Well Type (2000-2015)
  • Technical and Commercial Success Rates

Tables

  • Key facts: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Production: Table 3
  • Production: Table 4
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10
  • Fiscal terms: Table 11
  • Fiscal terms: Table 12
  • Fiscal terms: Table 13
  • Fiscal terms: Table 14
  • Fiscal terms: Table 15
  • GEM models

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