InterOil said that the latest well test data from the Elk-Antelope gas field in Papua New Guinea shows that the field can support a two-train liquefied natural gas project.
According to the company’s Chief Executive Michael Hession, the Antelope-5 well had exceeded all previous Antelope well results.
“Our latest downhole pressure data from flow testing shows clear connectivity across the field – that is, we see no evidence of compartmentalization either laterally or vertically.
“The testing also indicates a world-class, multi-darcy reservoir with strong deliverability, which should favorably influence development costs,” Hession said.
Appraisal of Elk-Antelope is expected to finish later this year and will be followed by certification of the resource volume.
In the past two weeks, Total of France has assumed operatorship of the PRL15 joint venture and the Elk-Antelope field, which is being developed as the Papua LNG project.
The joint venture recently selected sites for gas field infrastructure, pipelines and the LNG plant, and is proposing to build Papua New Guinea’s second LNG facility next to the ExxonMobil-operated PNG LNG project near Port Moresby.
Hession added InterOil remained disciplined about capital allocation, would streamline its organization to account for Total becoming operator of PRL15, and would prioritize investment on proving up existing discoveries.
LNG World News Staff; Image: InterOil