Find Oil and Gas expertise in Papua New Guinea

Papua New Guinea has extensive reserves of natural gas and oil. Oil production started in 1992 in the Kutubu field in the Southern Highlands Province, which held an estimated reserve of about 18.7 million barrels in 2013. There are two oil refineries: one in the Gulf of Papua and the other at Port Moresby. A liquefied natural gas project in the Southern Highlands and Western Province is due to begin operating in mid-2014. In 2011, crude oil accounted for approximately 15% of exports. This rate is declining as oil production is slowly being replaced by natural gas production. Proven reserves of natural gas were estimated in January 2013 to be 400 billion cubic metres.