PNG Oil & Gas Industry Overview

PNG Oil & Gas Industry cont'd ⚫ Upstream We have currently 47 Petroleum Prospecting Licences (PPL). ⚫ That is a decline. From 2010 to 2019 pre Covid-19, PPLs were in in the range of 60 to 100. → Currently we have 10 Petroleum Development Licences (PDL); PDLS 7, 8 & 9 are tied to the PNG LNG Project i.e Hides, Juha and Angore gas fields 4 Applications for Development Licence (APDL) are pending; They are APDL 12 (Ketu/Elevala Gas Fields), APDL 13 (P'Nyang Gas), APDL 14 (Pasca Gas Field) and APDL 15 (Elk/Antelope, Papua LNG gas fields) 7

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