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Licence Interests

Project or Petroleum Development Licence

  Field KPH Interest % Operator
PNGLNG 16.57%ExxonMobil
PDL1Hides20.50%ExxonMobil
PDL7Hides20.50%ExxonMobil
PDL8Angore20.50%ExxonMobil
PDL9Juha20.50%ExxonMobil
1,4 PDL3SE Gobe21.4%Oil Search
2 PDL5Moran11.28%Oil Search
3 PDL10Stanley10.00%Repsol

Petroleum Retention Licences

  Field KPH Interest % Operator
3 PRL8Kimu17.00%Oil Search
1 PRL9Barikewa14.89%Oil Search
1 PRL14Iehi, Cobra, Bilip37.44%Oil Search
PRL28Ubuntu20.00%Eaglewood Energy (BVI) Ltd.
3 PRL40Pukpuk, Douglas, Langia, NW Koko & Weimang20.00%Repsol
NOTES
  1. Kumul Petroleum Holdings acquired Cue Energy assets in PNG in 2014. This included
    1. 5.57% interest in PDL3 - SE Gobe field.
    2. 37.44% interest in PRL9 which contains the Barikewa gas discovery.
    3. 37.44% interest in PRL14 which contains the Iehi gas discovery, the Cobra gas discovery, and the Bilip oil and gas discovery.
  2. Licence transferred from Petromin in 2016.
  3. Licences acquired from Mitsubishi in 2017.
  4. JX Nippon interest in PDL3, SE Gobe, sold to KPH in June 2017, increasing Kumul Petroleum Holdings interest to 45.72%.

Oil, Condensate and Gas Reserves Net to Kumul Petroleum

  Oil & Condensate Gas Oil & Condensate Gas
  mmbbl bscf mmbbl bscf
Reserves Category Proven (1P) Proven and Probable (2P)
PNGLNGProject Fields115.411,321.118.171,490.6
PDL1Hides GTE2 - -
PDL3South East Gobe30.019.040.119.04
PDL5Moran40.9644.341.7948.29
Total16.381374.4820.071547.93

Contingent Oil, Condensate and Gas Resources Net to Kumul Petroleum

  Oil & Condensate Gas Oil & Condensate Gas
  mmbbl bscf mmbbl bscf
Reserves Category 1C 2c
PDL10Stanley51.0131.501.2739.90
PRL8Kimu6 42.67 89.25
PRL9Barikewa7 42.44 65.37
PRL14Cobra, Bilip, lehi0.1211.790.3726.64
PRL40Pukpuk, Douglas8 77.78109.38 
Total1.13206.18111.02221.16
NOTES
  1. PNG LNG Project includes Hides, Juha, Angore, and Oil Search operated fields of Kutubu, Agogo, Moran, SE Gobe and Gobe Main, and SE Hedinia. The reserves are as per NSAi Reserves Recertification of June 2016.
  2. Hides GTE reserves are as stated on Oil Search's 2020 Reserves and Resources Statement.
  3. NSAi Reserves Assessment as of December 2016. PDL3 additional interest acquired from JX Nippon in 2017.
  4. NSAi Reserves assessment of 2014 for oil; Moran gas reserves are part of the PNG LNG Project.
  5. PDL10 added in 2017 as acquisition from Mitsubishi Corporation.
  6. PRL8 added in 2017 as acquisition from Mitsubishi Corporation. Reserves recertification by RISC-2018 post Kimu 2 appraisal well in April 2018
  7. PRL9 and PRL14 reserves are from the Operator, Oil Search Limited; net to KPH. Barikewa reserves recertification by RISC-2018 post Barikewa 3 appraisal well in June 2018
  8. PRL40 added in 2017 as acquisition from Mitsubishi Corporation.