Oz duo win PNG licence

PNG partnership: Kina and Cott have been awarded a new licence in Papua New Guinea

Australian duo Kina Petroleum and Cott Oil & Gas have been awarded a new licence in the Western Papuan basin, onshore Papua New Guinea.

The pair were successful in their application for licence PPL 437 which covers 18 graticular blocks over a 1104 square kilometre area.

Kina, which will take an 80% stake in the licence, said several leads had already been identified within the licence area.

It added those leads included potential extensions in the north of the acreage of prospects already identified in neighbouring licences, including the Ketu discovery in PRL 21 where Kina holds a 15% stake.

The firm work programme for the first two years of PPL 437 includes seismic reprocessing and…

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