Papua New Guinea (PNG)-incorporated Oil Search is expecting to start inspection works at the platform of the Kumul Marine offloading terminal Friday with the arrival of a specialist diving support vessel, a spokesperson told Rigzone.
Oil Search had released a statement on August 3, 2012, which detailed a minor spill that took place at the Kumul Marine offloading terminal. A "small release of oil", said Oil Search, was seen on the sea surface next to the terminal during the loading of a tanker on July 26, 2012. Loading operations were suspended on the same day.
"While Oil Search is aiming to start inspection works today, the timeline could be subjected to changes due to weather conditions. There are high winds and heavy swells in the waters surrounding the platform," the spokesperson said. "It is unclear how long the inspection works will take," the spokesperson added.
Production from the PNG oil fields remain largely shut-in on Friday, with current output at around 5,000 barrels per day, Oil Search said in a statement.
Oil Search is PNG's largest oil and gas producer and the company operates all of PNG's producing oil and gas fields. The company holds a 60.05 percent interest in the permits petroleum development licence-2 (PDL-2) and pipeline licence-2 (PL-2). Oil Search stated on its website that as of December 31, 2011, the onshore PDL-2 permit has remaining recoverable reserves of 27.3 million barrels of 45 degree API light, sweet crude.
The other stakeholders of PDL-2 are: ExxonMobil (14.52%), Merlin Petroleum Company (18.69%) and Petroleum Resources (Kutubu) (6.75%).
Quintella Koh has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at firstname.lastname@example.org.