6 Dec 2005

Gas exploration in PNG expected to total US$400m

9:12 am on 6 December 2005

The 19 gas projects granted exploration licences in Papua New Guinea this year are expected to spend a total of US$400 million in drilling and seismic data update and gathering.

The National newspaper reports this was gleaned from the data covering the 19 licences which the Department of Petroleum and Energy approved in March.

The 19 applications were among the more than 35, including some "top file", which the DPE received following the government's introduction of new fiscal incentives in 2003.