Oil production declining rapidly

Oil production from mature oil fields in PNG has declined rapidly, with many of these fields now operating as gas fields.

According to the PNG Chamber of Mines and Petroleum, oil production from mature oil fields are in decline, with most production coming from Kutubu complex and Moran fields.

Gobe fields have waned rapidly in recent years and these fields now operate primarily as gas producers in support of the PNG LNG Project.

Currently, total crude oil production is about 22,000 barrels per day (bpd), according to the Chamber.

PNG’s oil production has been on a declining trend since exports commended in 1992 with peak rates of 150, 000 bpd declining to 25, 000 bpd in 2016.

Cedric Patjole