Overview

PNG has four main producing oil fields and they are Kutubu, Gobe, Moran and South East Mananda. Production from all the fields has been declining and no additional oil reserves have been found after those fields to sustain future oil revenue.

All the oil and gas fields are in the Papuan Petroleum basin or Foreland basin. The petroleum basins are still under explored and therefore there is potential for more oil discoveries. The advantage of the LNG Project has stimulated petroleum exploration activities. This is clearly based on the number of PPLs covering 90% of the both onshore and offshore.