24 Oct 2014

PNG gas find by Interoil

8:19 am on 24 October 2014

The Canadian company InterOil has discovered hydrocarbons at a well in Papua New Guinea's Gulf Province.

The Raptor-1 well is part of InterOil's 300 million US dollar drilling programme in PNG.

It is located about 12 kilometres west of InterOil's Elk-Antelope gas fields, development of which is being led by the French company Total, in partnership with the Canadian company.

This is just one of several wells designed to test what the company sees as the enormous remaining potential in the area ahead of a planned liquefied natural gas project.

Upstream Online reports that InterOil is preparing to drill further into the target zone.

InterOil holds a 78.1% interest in the well.