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Page added on August 28, 2017

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Oil production declining rapidly

Production

Oil production from mature oil fields in PNG has declined rapidly, with many of these fields now operating as gas fields.

According to the PNG Chamber of Mines and Petroleum, oil production from mature oil fields are in decline, with most production coming from Kutubu complex and Moran fields.

Gobe fields have waned rapidly in recent years and these fields now operate primarily as gas producers in support of the PNG LNG Project.

Currently, total crude oil production is about 22,000 barrels per day (bpd), according to the Chamber.

PNG’s oil production has been on a declining trend since exports commended in 1992 with peak rates of 150, 000 bpd declining to 25, 000 bpd in 2016.

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29 Comments on "Oil production declining rapidly"

  1. Lucifer on Mon, 28th Aug 2017 9:37 pm 

    WOW! That is interesting, lol. The decline in production is a drop in the bucket. The article was hardly worth putting on here, unless you are from PNG of course.

  2. Go Speed Racer on Mon, 28th Aug 2017 11:52 pm 

    What is PNG ?

  3. rockman on Tue, 29th Aug 2017 12:24 am 

    Racer – I’ll guess Papua New Guineans. BTW in general old fields do not decline quickly. Typically very low decline rates. But low prices might have pushed many wells to negative cash flow and are being abandoned. That’s not decline…that’s reaching economic limit.

  4. jmm.peters on Tue, 29th Aug 2017 3:26 am 

    What is PNG ?

  5. Cloggie on Tue, 29th Aug 2017 3:51 am 

    Two people asking what PNG is, via a computer!

    Why not enter a few characters in Goolag?

    http://pngchamberminpet.com.pg/

    PNG = Papua New Guinee Chamber of Mines and Petroleum.

    PNG was a former Dutch colony and part of the Dutch East Indies, where the history of Royal Dutch Shell began.

  6. Davy on Tue, 29th Aug 2017 4:22 am 

    I would not go as far to say there is no energy crisis but it is impressive what Northern Europe is doing.
    “World’s Biggest Wind Turbine Maker Waves Oil Industry Goodbye”
    http://tinyurl.com/y7u27jxe

    Denmark, which is also home to Vestas Wind Systems A/S (a company that produces more turbines than any other manufacturer on the planet), now gets more than 40 percent of its electricity needs from renewable sources, according to 2015 data, and aims to reach more than 50 percent by 2020. The country’s green sector already employs about 67,000 people, double the number of workers in its North Sea industry. According to Peter Kurrild Klitgaard, a professor of political science at the University of Copenhagen, the reason behind the muted political response to Maersk’s sale is due to the fact that “there’s no energy crisis. We have more sources of energy than ever before.”

  7. Sys1 on Tue, 29th Aug 2017 6:04 am 

    Davy : the more there are workers in energy sector, the less it is good for economy. During the Middle Age, almost every humans worked in the energy and food economy.
    Live in your fantasy, dumbass, we are heading towards collapse of food, water, oil, and all other derivatives energies while an exponentiel self feed back Global Warming will cook mankind before 2030.

  8. Davy on Tue, 29th Aug 2017 6:27 am 

    Sys1, who the frig are you. Are you a one hit wonder that just bounces in make a comment and then run to your intellectual hideaway. You mean nothing to this board. If you would have invested any time at all here you would know I am a doomer and prepper but a realistic and balanced one. The few good years we have left on this destroyed planet “MAY” be made better from renewable energy. Until your exponential self-feed backs kick in we are still interested in living. If not you can mouth a gun or suck helium. I will give you a break on this one but if you intend to stay get to know the issues and the people here and don’t be a stupid one hit wonder looking the fool.

  9. Hello on Tue, 29th Aug 2017 7:09 am 

    >>>>> the more there are workers in energy sector, the less it is good for economy

    Exactly. The more resources (manpower, industrial output, energy) goes into getting energy, the more of a problem there is.

  10. Cloggie on Tue, 29th Aug 2017 8:04 am 

    >>>>> the more there are workers in energy sector, the less it is good for economy

    I thought that everybody was about to become unemployed because everything is automated.

  11. Makati1 on Tue, 29th Aug 2017 8:26 am 

    Sys1, you have just triggered our resident Missouri redneck wannabee. Welcome aboard!

  12. Davy on Tue, 29th Aug 2017 9:20 am 

    makat, are you being cutesie ^<^ lol. I must have really bitch slapped you good.

  13. GregT on Tue, 29th Aug 2017 10:08 am 

    “I thought that everybody was about to become unemployed because everything is automated.”

    You’re getting ahead of yourself again Cloggie, a good portion of that automation is still manufactured in 3rd world countries, using what is essentially slave labour.

  14. Jerome Purtzer on Tue, 29th Aug 2017 10:09 am 

    Papua New Guinea is an amazing place with over 700 indigenous languages and many tribes who have never seen a western man. The oil age will come and go and they will remain the same.

  15. GregT on Tue, 29th Aug 2017 11:14 am 

    Sys1,

    Davy suffers from severe dilusions. He does not own this board, and does not speak for all who post here. Try your best to ignore him, or at least consider his comments to be a form of comic relief. Most everyone else does.

  16. Davy on Tue, 29th Aug 2017 11:51 am 

    Sys1, grehg is a hypocritical Canadian located on the edge of the Butthole of the Continent. He hates Americans and America. He hedges that by befriending Americans that hate American. He comes across as a modest guy, green, and polite. He is reality is a backstabbing liar who is fake green and proud as a peacock. He talks the talk but does not walk the walk. For example he complained about climate change on his trip to Hawaii a few years ago then had the audacity to chastise a fellow board member for taking a trip to Egypt. He acts like he has a social justice heart. He talks about his travels in Asia and how he knows all about the poor of Asia. He took lots of pictures he says. He doesn’t know jack about Asia. He is making it up as he goes. He says he has a financial background but he has also said he had a renewable energy background. He is a pilot and has a boat, and truck. Yet, he is always moaning about climate change. He is a gun nut and heavily armed but is not afraid to criticize those in the US with guns. He lives near in Salmon Arm, BC in I imagine a nice house. He engaged in the macro money laundering schemes going on in Hongcouver. He made out like a bandit in the money laundering capital of the world Hongcouver. He said himself a cool $MIL. He then talks highly of the 3rd world all the while he indirectly fleeced some poor Chinese worker of his pay that some business owner snuck out of the country and parked it Hongcouver. I would either embrace him if you hate America or avoid him if you are a normal person. He is an obsessive prick and a blemish to this board. How is that grehg for delusional?

  17. rockman on Tue, 29th Aug 2017 3:38 pm 

    Cloggie – Yes, either search Google for PNG as you suggested. Or read the explanation posted immediately after the first question. As apparently you didn’t.

    Just teasing you, buddy. BTW I had to google it myself. LOL.

  18. Cloggie on Tue, 29th Aug 2017 3:52 pm 

    Rockman, I very well did read you comment, but your prudent statement “I guess” left ample room for me to provide certainty while en passant inserting some Dutch oil history.

    I love doing that since our past is greater than our present. 🙁

  19. Go Speed Racer on Tue, 29th Aug 2017 5:07 pm 

    Now I understand. Thx everybody.
    PNG is one of those places where we
    take their oil. So that I can pump 30 gallons
    into my 1978 Lincoln Continental. Their
    hydrocarbons keep my 8-track crooning
    John Denver Country Roads, and the Freon 11
    Air Conditioner blasting snow and crushed ice
    Into my face.

    What a pity they are running out. Now get oil
    from somewhere else.

  20. rockman on Tue, 29th Aug 2017 9:23 pm 

    Cloggie – I’ll only inject such phrases as “I guess” to offer some sense of humility on my part and not make the questioner feel so ignorant. LOL. After all I always KWTFTAI. Especially when in comes to acronyms. YKWTFIM, right?

  21. GregT on Tue, 29th Aug 2017 10:01 pm 

    ” How is that grehg for delusional?”

    About as delusional as it gets Davy, but given your history of deterioration over the past three years, and your refusal to do anything about it, I’m sure you’ll continue to get even worse.

  22. Makati1 on Tue, 29th Aug 2017 10:24 pm 

    GregT, at least he lives in the right (pun intended) area of the FSA. The most uneducated, interbred, narrow minded bunch of obese, drugged up Americans ever.

    (Do you want the refs, Davy? St. Louis is number two redneck city in America. Sorry, Atlanta took 1st place. It appears that you live between the two.)

  23. GregT on Tue, 29th Aug 2017 11:53 pm 

    As time goes on Makati, and Davy continues to deteriorate, I find it increasingly difficult to believe a single word that he says. A functional family of four, with three dogs, living in a 480 sq ft cabin, just doesn’t add up. There is no way that any respectable woman would ever stick around under circumstances like that.

    The stories about the family jet, the retreat in the Bahamas, the multi million dollar property in hillbilly land, the 14 paragraphs a day of repetitive nothingness, the refusal to accept the empire’s reign of terror around the world over the last 70 plus years, and the constant childish name calling and immature rhetoric, lead me to believe that Davy is an emotionally disturbed, delusional pre-teen, living in mommy and daddy’s basement, or locked away somewhere in an asylum.

    The guy, whoever he really is, is a complete whack job.

  24. Makati1 on Wed, 30th Aug 2017 1:25 am 

    GregT, I too have been adding up the claims he has made over the years and it just does not add up. Maybe it is some kind of “new math”? ^_^ If it is all true, he has the most unusual setup I can ever imagine, and my imagination is very good, having a passion for good science fiction for the last 60+ years.

    That he can never seem to come up with a coherent rebuttal that can be substantiated with refs, and seems to always revert to name calling and putdowns, tells me he may well be a troubled youth living in his parent’s basement. Or a very mentally ill adult in some institution where they allow him access to the internet.

    I post my thoughts on the world, especially the evil empire I used to live in. It is my way of fighting the torrent of US propaganda that the world seems to be infected with. I am too old to be effective any other way. I no longer pay taxes so I am not supporting the Empire. Something I feel very good about.

    As for my personal life, I only post what I want the internet to have on record. I would be a fool to give too many details to ‘Big Brother’. What I have posted is all true. I have no reason to lie. That way, I do not have to try to remember what I said to whom. Davy doesn’t want to believe that. He wants to believe that I live in some Asian hell hole, when it is just the opposite. This is the nicest place I have ever lived in, barring my youth in the mountains of PA.

    Sorry for such a long reply. Davy’s verbosity must be catching. LOL Have a great day!

  25. Davy on Wed, 30th Aug 2017 5:48 am 

    I love it when the boyfriends talk their talk. Instead of your sowing circle ask me about my life. Or better yet google it. I have left multiple comments on my life and my personal solutions that may work for others. I am capable of saying something so that is the reason for a few paragraphs. Neither grehg nor makat can say much so they only do the same verbiage but in short popcorn fart comments that say little.

    grehg, I live in a 12×40 cabin with my Italian wife. The kids are here most of the summer and every other week during school. When the kids are here they stay in the guest RV in the barn next to the cabin. Three of the dogs are working dogs that guard my goats. They stay in the fields. I live and work on a family farm and yes it is 400 acres. The family has devoted time and effort to make this a wildlife refuge. It is native grasses, woody draws, and lakes. It is a wildlife wonderland and I have the wonderful job of maintaining that. I also have my permaculture farm that is also my doomstead for when the world turns. We have had this farm since the 40’s. My grandfather had a dairy farm here for a few years then it just became a place to visit and unwind.

    Yes, I come from a wealthy family. I left that life as a personal choice to get closer to nature and live a simpler life. It is working well for me. I still do some family trips to see my dad in Florida. He also has a place in Michigan one hour from Canada. He is no longer healthy enough to be in the Bahamas. Let me make something clear I do not like traveling. If I could stay on the farm and never leave I would. As a way to do personal sacrifice I have cut my trips down as much as is possible. My wife is now in Italy. I have not been there for 4 years now. She is not happy with that but I told here I am not into traveling anymore. This is both because I don’t want to but also because I am against mass travel for pleasure because of climate change. So you see while you are swapping spit like boyfriends I just laid it out. As for name calling you get called names when you call me out or disrespect me. It is simple as that. Leave me alone grehg but I know you are a prick and like pricking people. IOW, you have a personality disorder.

    I try to avoid grehg because he is a prick that like to slap down people then wants the last slap. This unfolds into multiple redundant comments of he said she said stupidity. makat I made a promise to dog him until his last days which at 75 might not be long. That promise I will keep as long as I can. It is a duty to fight extremism especially when it concerns me. Both grehg and makat have personality issues. I too have personality issues but I admit it. I admit the sins of the US and I am here to try to find personal solutions for a time of decay and decline. Grehg and makat are here to put others down and promote their narrow hypocritical brand of anti-American extremism. They are a blemish on this board and unfortunately the quality of this site has decline because of them.

  26. Cloggie on Wed, 30th Aug 2017 11:10 am 

    Cloggie – I’ll only inject such phrases as “I guess” to offer some sense of humility on my part and not make the questioner feel so ignorant. LOL. After all I always KWTFTAI. Especially when in comes to acronyms. YKWTFIM, right?

    Not even Goolag.com is of any help here.

    YKWTFIM = you know wtf I mean?
    KWTFTAI = know wtf tai?

    I have little doubt that in both case WTF means wtf. Right?

  27. rockman on Wed, 30th Aug 2017 1:17 pm 

    Cloggie – Excellent deciphering! Unfortunately I can’t remember WTF “KWTFTAI” means. LOL.

  28. Sissyfuss on Wed, 30th Aug 2017 2:04 pm 

    Know where the f#%k that asshole lives?

  29. _____________________ on Thu, 31st Aug 2017 9:48 am 

    CO2 and global warming are your friends, you morons

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