Horizon spuds at Stanley

PNG spud: Stanley gas field spud

Australia-listed Horizon Oil has spudded its first development well at the Stanley gas/condensate project in Papua New Guinea.

The Stanley-5 was spudded earlier this week, and started drilling ahead on Wednesday.

Horizon was recently granted a development licence and pipeline licence on 30 May, which set the drilling in motion.

Since that time, the company has carried out site preparation and construction of facilities needed for development.

The well is being drilled using the rig Parker 226, which will also move on to drill the Stanley-3 well after the initial well is completed.

The Stanley project is due on stream in the first half of next year initially producing at a rate of about 140 million cubic feet per day of wet gas, of which 4000 barrels per day of condensate will be stripped out, with the gas re­injected for later use.

Horizon has operated the asset for about six years, but this function has transferred to Talisman Energy.

The Stanley joint venture comprises Talisman on 40%, Horizon with 30%, Osaka Gas on 20% and Mitsubishi with 10%.

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