Country Report

Papua New Guinea upstream summary

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26 April 2018

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 ...

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
    • Licensing
      • 1980s and 1990s
      • 2000s
      • 2010s
    • Drilling
      • Drilling activity
      • Pre-1990
      • 1990s
      • 2000s
      • 2010s
      • Success rates
    • Commercial Reserves
    • Technical Reserves
    • Oil/Condensate
    • Gas
    • Introduction
    • Oil infrastructure
      • Refined Products
    • Gas infrastructure
      • Phase 1
      • Subsequent Phases
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
    • Licensing
      • Licence Types
      • Petroleum Prospecting Licence
      • Petroleum Development Licence
      • Petroleum Retention Licence
      • Pipeline Licence
      • Petroleum Processing Facility Licence
    • Overview
    • Current fiscal terms
    • Basis
    • Government equity participation
    • Royalty
      • Ring fencing
      • Base
      • Rate
      • Payment schedule
    • Corporate income tax
      • Ring fencing
      • Base
      • Rate
      • Payment schedule
    • Additional profits tax
      • Ring fencing
      • Base
      • Rate
      • Payment schedule
    • Fiscal treatment of decommissioning
    • Product pricing
    • Sample cash flow
    • Historical background
    • 1990s
      • Royalty
      • CIT and APT
      • State participation
    • 2000s
      • APT
      • CIT
    • 2010s
      • Royalty
      • Additional profits tax
      • Papua LNG terms
      • Production sharing contract (PSC) terms

Tables and charts

This report includes 30 images and tables including:

  • Liquids and Gas Production 2019
  • Gas Production (1990-2020)
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Key facts: Table 1
  • Country Map
  • Liquids and Gas Production 2019
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Net Acreage 2019
  • Papua New Guinea: Map of Main Geological Elements and Sedimentary Basins
  • Liquids and Gas Production and Reserves
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Liquids Production (1992-2022)
  • Production: Table 1
  • Production: Table 2
  • Gas Production (1990-2020)
  • Production: Table 3
  • Production: Table 4
  • Location Map
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Summary of modelled terms
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Licence Activity
  • Exploration Drilling by Basin (1970-1999)
  • Drilling Activity by Well Type (2000-2019)
  • Geological and Commercial Success Rates
  • Fiscal terms: Table 6
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 13.43 MB

  • Document

    Country Overview

    XLS 343.00 KB

  • Document

    Country Overview

    ZIP 13.38 MB

  • Document

    Executive summary

    PDF 717.28 KB

  • Document

    Key facts

    PDF 684.42 KB

  • Document

    Location maps

    PDF 4.52 MB

  • Document

    Key companies

    PDF 713.92 KB

  • Document

    Geology

    PDF 4.60 MB

  • Document

    Exploration

    PDF 749.71 KB

  • Document

    Reserves and resources

    PDF 724.92 KB

  • Document

    Production

    PDF 731.94 KB

  • Document

    Infrastructure

    PDF 5.72 MB

  • Document

    Policy and regulation

    PDF 703.46 KB

  • Document

    Fiscal terms

    PDF 746.37 KB

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