KPHL has just this month started gathering seismic data in its Barikewa petroleum retention licence in Gulf Province.
Kumul Petroleum Managing Director, Wapu Sonk explained, “Our contractor, OM Holdings Limited or OilMin, has for the last few months been engaged in landowner engagement, building camps, helipads and bridging, drilling holes for explosive charges, and laying out the recorders over approximately 80 kilometres in six seismic lines in our two licences, and this week we have started data collection.”
Mr Sonk explained that this was an historic moment – the first time a 100% national company had engaged in petroleum appraisal work in the country; and that the seismic work would gather additional information on gas already discovered in the two KPHL licences, to increase known volumes of oil and gas they contain, and improve targets for possible further drilling.
“From seismic results from the Barikewa field, and later in the Kimu field, we will have a better idea of the oil and gas volumes in these licences and be able to assess the economic feasibility of monetising the gas, and select a development path.”
Mr Sonk explained that the seismic work was in a remote area and helicopter-supported; that line cutting was a labour intensive activity and the OilMin managed operation employed more than 100 local casual employees. He noted that OilMin and Kumul Petroleum were also involved in small scale community development in communities close to the seismic work activities.
Mr Sonk explained further, “KPHL’s role is to maximise the financial returns that PNG receives from the natural resources it has been blessed with, supporting our economy and development as a country.”
“Now Kumul Petroleum Holdings is actively involved in upstream petroleum appraisal we can progress further commercialisation of PNG’s gas resources, in licences where these discoveries had previously been considered uneconomic and ‘stranded’ fields.”
