ExxonMobil has delivered its first cargo from the PNG LNG facility commencing Papua New Guinea's first LNG exports. Two further LNG developments led by Osaka Gas and Total are expected to be developed over the next ten years. We also forecast oil production to increase on the back of greater condensate output which is due to be mixed with Papua New Guinea's Kutubu Blend.
The main trends and developments we highlight for Papua New Guinea's oil and gas sector are:
* ExxonMobil's PNG LNG facility shipped its first cargo from train 1 to TEPCO in Japan on May 25. The project was brought online ahead of schedule.
* Train 2 of the PNG LNG facility began producing in May and the facility is now running at full capacity.
* In June ExxonMobil began drilling nine further wells on its Hides field as part of its longer-term plans for PNG LNG. The company is looking at options to expand the facility.
* In early June Horizon Oil was given the development licence for the Stanley Gas Project leading to the drilling of two wells and installation of facilities. The move achieves the conditions required for Osaka Gas to take a 40% stake in the project.
* Due to new LNG export facilities we forecast production to grow from 0.1bcm in 2013 to 14.8bcm by 2018.
* A possible third train at the...
Full Report Details at
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.
* 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.
BMI Industry View
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 perspective on size and value of industry sector; comparative rankings by production refining imports and exports of oil gas and LNG.
Business Environment Rankings
BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents NOCs IOCs and oil services companies) in the upstream and downstream markets.
The rankings methodology makes sophisticated use of more than 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings 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 products
BMI 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.
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.
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.
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