Twinza Oil Limited

Twinza welcomes endorsement of Pasca development

The Government is ready to commence negotiations with Twinza on the Gas Agreement in the near term, setting out the fiscal terms to allow the Project to enter the Front End Engineering and Design phase later this year.

No landowner to claim sea project

The Gas Field development by Twinza Oil Limited, which lies nearly 100 kilometres offshore from the Gulf Provincial coastline, is currently undergoing negotiations.

Haiveta made the comments following the recent flaring of the Pasca A4 Gas Condensate Well.

When queried over potential issues that may be raised by locals over ownership, Governor Haiveta said the project is well out of the local fishing boundary.

“The project is nearly 100km. Which Gulf man in his right mind will paddle all the way out 100 kilometres and claim it belongs to them?

LPG gas price to reduce with new project

With discussions for a ‘Domestic Market Obligation (DMO)’ agreement between the Government and developer, Twinza Oil Limited, the cost of fuel sources such as LPG can be significantly reduced.

Twinza managing director, Huw Evans, says the company is committed to the DMO of which the gas resource are injected back into the domestic market.

With the country having an existing refinery at Napanapa, owned by Puma Energy that produces and sells LPG, this could further drop fuel prices.

Haiveta wants Twinza project to proceed

Governor Chris Haiveta said currently the country and his province need the investment and he wants the project to begin soon.

He made the comments following the flaring of the Pasca A4 well yesterday.

Congratulating Twinza on its milestone, Haiveta urged the government to move forward with the project even if the GTA is not ready.

The GTA spells out the equity participation and benefit sharing arrangement of the project.

Twinza conducts Pasca 4 flaring

The milestone took place at its Pasca A4 well located 90 kilometres offshore from Orokolo Bay, Gulf Province.

Twinza hopes this is the birth of the first offshore gas and oil development in PNG.

It has been nearly five decades after the initial discovery of gas condensates in the offshore field.

And six years after the licence signing to Petroleum Prospecting License or PPL 328, Twinza conducted the flaring of the Pasca A Gas Field well.

It is indeed a significant moment and is on a positive track for a development licence to be granted.

Underwater gas field has 20-year lifespan

According to the developer, Twinza Oil Limited’s Environmental Impact Statement (EIS), the propane strand of the LPG will supply PNG markets for the duration of the project, while other strands will feed regional markets.

The Pasca A gas field is located approximately 85km from the nearest coastline and 265km west of Port Moresby in Petroleum Prospecting License (PPL) 328.

Twinza confirms intent to drill well at Pasca A

This is in advance of its plans of moving forward with its plans to commercialise the field.

This was revealed at the recent PNG Mining and Petroleum Conference in Sydney, Australia.

Pasca A is a rich-gas condensate field located approximately 95km offshore from the Gulf Provincial coastline and nearly 100 metres deep.

The Petroleum Prospecting License (PPL) 328 for Pasca A was awarded in October 2011 and an application for a Petroleum Development Licence (PDL) was submitted to the Department of Petroleum and Energy on the June 30, 2015.