Licence Interests

Project or Petroleum Development Licence

License Field KPH Interest % Operator
PNGLNG 16.57%ExxonMobil
PDL 1Hides20.50%ExxonMobil
PDL 7Hides20.50%ExxonMobil
PDL 8Angore20.50%ExxonMobil
PDL 9Juha20.50%ExxonMobil
PDL 3SE Gobe21.4%Oil Search
PDL 5Moran11.28%Oil Search
PDL 10Stanley10.00%Arran Energy (Niugini) Limited
  1. Kumul Petroleum Holdings has 16.57% interest in the PNGLNG project as the State nominee since its inception in 2009.
    1. 20.50% interest in PDL1 – Hides Field.
    2. 20.50% interest in PDL 7 – Hides Field.
    3. 20.50% interest in PDL 8 – Angore Field.
    4. 20.50% interest in PDL 9 – Juha Field.
    5. 45.72% interest in PDL 3, and 21.4% in the South East Gobe Unit.
    6. 20.50% in PDL5, and 11.28% in the Moran Unit.
  2. Licence transferred from Petromin in 2016.
  3. JX Nippon interest in PDL3, SE Gobe, sold to KPH in June 2017, increasing Kumul Petroleum Holdings interest to 45.72%.
  4. PDL10 added in 2017 as acquisition from Mitsubishi Corporation.

Petroleum Retention Licences

License Field KPH Interest % Operator
PRL 14Iehi, Cobra, Bilip37.44%Oil Search
PRL 28Ubuntu20.00%Arran Energy (Niugini) Limited
PRL 40Pukpuk, Douglas, Langia & Weimang20.00%Arran Energy (Niugini) Limited
PRL 47Pandora100.00%Kumul Petroleum Holdings Limited
PRL 48Kimu100.00%Kumul Petroleum Holdings Limited
PRL 49Barikewa100.00%Kumul Petroleum Holdings Limited
PRL 50Uramu100.00%Kumul Petroleum Holdings Limited
  1. Kumul Petroleum Holdings acquired Cue Energy assets in PNG in 2014. This included:
    1. 37.44% interest in PRL 14 – Iehi, Cobra & Bilip gas discovery
    2. 14.89% interest in PRL 9 – Barikewa gas discovery
  2. Kumul Petroleum Holdings acquired Mitsubishi Corporation assets in PNG in 2017. This included:
    1. 20.00% interest in PRL28 which contains the Ubuntu gas discovery.
    2. 20.00% interest in PRL40 which contains the Pukpuk, Douglas, Langia & Weimang gas discovery.
  3. Kumul Petroleum Holdings acquired four new assets in PNG in 2021. This included:
    1. 100.00% interest in PRL 47 which contains the Pandora gas discovery.
    2. 100.00% interest in PRL 48 which contains the Kimu gas discovery.
    3. 100.00% interest in PRL 49 which contains the Barikewa gas discovery.
    4. 100.00% interest in PRL 50 which contains the Uramu gas discovery.

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 Fields15.411,321.118.171,490.6
PDL 1Hides GTE - -
PDL 3South East Gobe0.
PDL 5Moran0.9644.341.7948.29
  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.

Contingent Oil, Condensate and Gas Resources Net to Kumul Petroleum

  Oil & Condensate Gas Oil & Condensate Gas
  mmbbl bscf mmbbl bscf
Reserves Category 1C 2c
PDL 10Stanley1.0131.501.2739.90
PRL 14Cobra, Bilip, lehi0.1211.790.3726.64
PRL 28Ubuntu0.27.140.7120.02
PRL 40Pukpuk, Douglas, Langia & Weimang0.0977.800.13109.40
PRL 47Pandora    
PRL 48Kimu 251 525
PRL 9Barikewa 285 439
PRL 50Uramu    
  1. PRL48 (formerly PRL8) added in 2017 as acquisition from Mitsubishi Corporation. Reserves recertification by RISC-2018 post Kimu 2 appraisal well in April 2018
  2. PRL 49 (formerly PRL9) Barikewa reserves recertification by RISC-2018 post Barikewa 3 appraisal well in June 2018
  3. PRL14 reserves are from the Operator, Oil Search Limited; net to KPH
  4. PRL 28 Contingent resource net to KPHL (as per Gaffney Cline report, 2012)
  5. PRL 40 Contingent resource net to KPHL (as per NSAi report, 2015)