3 Mar 2009

PNG gas project claims world output record

4:24 pm on 3 March 2009

The Canadian oil company, InterOil's massive Papua New Guinea liquefied natural gas project has set a world output record.

InterOil's chief executive, Phil Mulacek, speaking at the Antelope 1 LNG site, in Gulf Province, says his company's well is the largest reservoir in the Southern Hemisphere.

At the test flowing, Mr Mulacek says InterOil set a new world record rate of 383 million cubic feet per day of gas with 5,000 barrels of condensate.

He says it surpassed PNG's huge ExxonMobil LNG project and placed PNG as one of the best quality gas producers in the world.

He says it proves PNG has one of the highest quality reservoirs on the planet.

InterOil's five billion US dollar project is expected to begin in 2013 or 2014.

Antelope is InterOil's second structure along with the Elk 4 site that in September last year registered a flow of 105 million cubic feet per day.