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NEW GUINEA: Joint venture development plans for proposed $1,100,000,000 offshore oil field project, AMERADA HESS CO. (AHC) [USA], ENERGY AFRICA LTD. & GEPETROL [New Guinea],.

Publication: WWP- Report on Oil Gas & Petrochemicals in the Developing World
Publication Date: 01-SEP-04
Format: Online - approximately 740 words
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

An international joint venture is currently gearing-up to undertake the integrated development of the Okume, Oveng, Ebano and Elon offshore oil reservoirs in New Guinea. The partners in the planned undertaking and their respective shareholdings include US-based AMERADA HESS CO. (AHC) the operator (80%), ENERGY AFRICA LTD. (15%), a subsidiary of TULLOW OIL PLC of the UK and GPETROL (5%), the national oil company of New Guinea.

The development project calls for: - The installation of 2 tension leg platforms (TLPs) set in 900 feet and 1,750 feet of water; - Installing fixed platforms set in 150 to 230 feet of water; - The drilling...

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