Exploring oil and gas in PNG.

  • New Guinea Energy is an Australian company focusing on oil and gas exploration and production in PNG.
  • PNG has a favourable tax regime with incentives for oil and gas development.
  • The Papuan Basin is a proven petroleum play with a similar petroleum system to the offshore Australian Carnarvon Basin.
  • NGE has 6 onshore Petroleum Prospecting Licences (PPLs) covering more than 50,000 sq km.
  • These 6 PPLs contain an excellent exploration inventory of 59 prospects and leads, with its 6 prospects and top 10 leads holding risked resources of over 1800 mmboe.
  • Good access to PPLs is provided by the Fly River and the ports of Aiambak and Kiunga. The existing all weather roads connecting Kiunga to the Ok Tedi mine provides great access for drilling operations and significantly reducing well costs by limiting the use of helicopters.
  • A number of significant oil and gas discoveries are proximal to NGE's PPLs.
  • Seismic and gravity field surveys have recently been completed.
  • A 6 well drilling program is planned to commence in 2007.