pursuing pandora

A bit of history from an article dated

Wednesday, 4 September 2013

Blair Price

"THE long-stranded Pandora gas discovery in the Gulf of Papua has reportedly attracted interest from several supermajors.

Pandora gas field

Not commercialised at least partly due to its high sulphur content and isolation, the offshore field was discovered in 1988 and is estimated to contain 1.5-3 trillion cubic feet of dry gas "."

The 15-year licence ran out in February.

The Papua New Guinea government invited bids at that time and the process is underway.

According to Upstream up to 10 applications were submitted, with the previous PRL1 owners involved along with supermajors Shell and Total SA.

Before it expired, PRL1 was owned by Talisman (48.2%), Oil Search (24%), ExxonMobil (16.4%), Beach Energy (6.4%) and Eni (5%).

In 2008 the PNG Chamber of Mines and Petroleum told PNGIndustryNews.net the Pandora field was in an ideal position to supply the PNG LNG project and that even though the gas would need its high sulphur content removed, the venture should still be profitable.

In the same year Beach managing director Reg Nelson told PNGIndustryNews.net there was plenty of exploration in the adjacent regions to the offshore field which “could perhaps double or triple” Pandora’s resources

http://www.pngindustrynews.net/storyview.asp?storyid=801573082