Country report
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39 Pages

Papua New Guinea upstream summary


Papua New Guinea upstream summary

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 includes 2 file(s)

  • Country Overview PDF - 979.10 KB 39 Pages, 23 Tables, 16 Figures
  • Country Overview XLS - 986.00 KB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
  • Geology
    • Introduction
    • Papuan basin
    • North New Guinea Basin
    • New Ireland Basin
    • Bougainville Basin
    • Cape Vogel Basin
  • Exploration
    • Licensing
      • 1980s and 1990s
      • 2000s
      • 2010s
    • Drilling
      • Drilling activity
      • Pre-1990
      • 1990s
      • 2000s
      • 2010s
      • Success rates
  • Reserves and resources
    • Commercial Reserves
    • Technical Reserves
  • Production
    • Oil/Condensate
    • Gas
  • Infrastructure
    • Introduction
    • Oil infrastructure
      • Refined Products
    • Gas infrastructure
      • Phase 1
      • Subsequent Phases
  • Policy and regulation
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
      • Carry & Reimbursement
      • Free Landowner Equity
    • Licensing
      • Licence Types
      • Petroleum Prospecting Licence
      • Petroleum Development Licence
      • Petroleum Retention Licence
      • Pipeline Licence
      • Petroleum Processing Facility Licence
  • Fiscal terms
    • Current fiscal terms
    • Concession 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
    • Product Pricing
      • 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)
    • Sample Cash Flows
      • Key Assumptions
      • Marginal Government Take
      • Oil Terms
      • Gas Terms
      • PNG LNG Gas Agreement

In this report there are 39 tables or charts, including:

  • Executive summary
    • Liquids and Gas Production 2016
    • Gas Production (1990-2020)
    • Remaining Commercial and Technical Reserves at 01/01/2016
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Key companies
    • Liquids and Gas Production 2016
    • Remaining Commercial and Technical Reserves at 01/01/2016
    • Net Acreage 2016
  • Geology
    • Papua New Guinea: Map of Main Geological Elements and Sedimentary Basins
  • Exploration
    • Licence Activity
    • Exploration Drilling by Basin (1970-1999)
    • Drilling Activity by Well Type (2000-2015)
    • Technical and Commercial Success Rates (1990-2015)
  • Reserves and resources
    • Remaining and Produced Liquids and Gas Reserves at 1/1/2016
    • Reserves and resources: Table 1
    • Reserves and resources: Table 2
  • Production
    • Liquids Production (1992-2022)
    • Production: Table 1
    • Production: Table 2
    • Gas Production (1990-2020)
    • Production: Table 3
    • Production: Table 4
  • Infrastructure
    • Location Map
  • Policy and regulation
  • Fiscal terms
    • 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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