Western Province development
02 Dec 2021
Arran Energy is a privately-owned Australian company.
Managing Director, Michael McGowan, spoke of the company at the 2021 PNG Mining and Petroleum Conference and Exhibition.
Arran owns a portfolio of oil and gas assets in the Western Province. The assets were acquired via the purchase of the PNG business interests of Repsol in January 2020, followed by Horizon Oil and Osaka Gas in December 2020.
Arran is now the majority equity holder and Operator of:
· PPL-574 and
The company is focused on commercializing these assets as quickly as possible.
“Our initial focus is the development of the Stanley Gas Condensate Field,” Mr. McGowan said.
· Over 90 years of experience in gas processing, field development operations and asset management globally
· Extensive PNG operating experience
· Large database of project experience & equipment pricing dating back 25 years
· Proven ability to self-perform, significantly reducing our reliance on expensive EPC contracting structures – which allows us to manage our risk profile and increase competitiveness
· Extensive experience of generating gas commercialization options specific to PNG and in particular, Western Province
· Track record of innovation, on budget project delivery, facility performance and safe operations.
· Lack of viable development plan
· No joint venture alignment
· A development licence at Stanley without a clear pathway to commercial development
· Lack of a near term, viable pathway to market for the gas
· Lack of progress creates challenges around government and local landholder relations
· Continued spend/holding costs without pathway to value realization
Arran Energy solutions
· Viable development concepts – lower cost, PNG appropriate development plan
· Funding partners identified
· Enhanced government and community relations
· Clear pathway to value realization for all parties
· Arran is now working with its joint venture partners to accelerate a final investment decision for Stanley (PDL-10), and to optimize wider development activities in Western province.
[ Download News Release (pdf) ]