The main trends and developments we highlight for Papua New Guinea's oil and gas sector are:
- Horizon Oil has been given approval for the Stanley Gas Project achieving the conditions required for Osaka Gas to take a 40% stake in the project. Initially the Stanley Gas project will produce around 4,000 barrels per day (b/d) of condensate by around 2016, reinjecting produced dry gas. Eventually, this dry gas is expected to be combined with output from other production licences and sent to a floating LNG facility at Daru Island. We have increased our liquids production forecast to accommodate new condensate production, but are yet to alter gas forecasts.
- In December 2013 French major Total farmed-in to the PRL 15 licence containing the Elk/Antelope complex with a 40.1% interest. As a result of the Total deal with InterOil in Q2 we altered our forecasts for PNG's gas production. The new agreement has delayed both the expected addition of gas to supply a third train at ExxonMobil's PNG LNG facility and also postponed production from the Elk/Antelope complex until around 2020, by which time a second standalone LNG export terminal could be operational.
- Overall, our view remains largely optimistic on PNG's gas sector, which we expect will expand beyond the initial two trains due online from the Exxon-led PNG LNG project in 2014. First gas from the project could treble PNG's exports and boost its GDP by at least 20%. Due to new LNG export facilities, we forecast...
The Papua New Guinea Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Papua New Guinea including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Papua New Guinea Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Papuan oil and gas industry.Key Benefits
CoverageBMI Industry View
- Benchmark BMI's independent oil and gas industry forecasts for Papua New Guinea to test consensus views - a key input for successful budgeting and strategic business planning in the Papuan oil and gas market.
- Target business opportunities and risks in the Papuan oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Papua New Guinea.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.Regional Overview
Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.Business Environment Ratings
BMI's Oil and Gas Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.
The ratings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Ratings products.Oil Market Outlook and Oil Products Outlook
Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil productsBMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs
Production, Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven gas reserves (tcm), production and consumption (bcm)
Imports and Exports: Oil exports/imports (`000b/d), value of oil exports/imports (US$mn - BMI base case); Value of oil exports at constant US$50/bbl and constant US$100/bbl (US$mn); Gas exports/imports (bcm), Value of gas exports/imports (US$mn); Value of gas exports/imports at constant US$50/bbl and US$100/bbl (US$mn); Value of petroleum exports/imports (US$mn); Value of petroleum exports/imports at constant US$50/bbl and US$100/bbl (US$mn)BMI Macroeconomic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.Competitive Landscape
Comparative company analyses by US$ sales, % share of total sales, number of employees, year established, ownership structure, oil production ('000b/d), gas production (bcm), downstream capacity ('000b/d) and % market share.Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
BMI View: The first LNG deliveries from Papua New Guinea's ExxonMobil-led PNG LNG facility, the country's first gas export project, are expected ahead of schedule in July 2014. There continues to be new proposals for LNG exports, including Total's monetisation plans for the Elk/Antelope fields and a possible floating LNG development by Osaka Gas. Gas projects will also offer some relief to a decline in liquids output, condensate from the PNG LNG project will give oil production a temporary boost.