Peak Oil (PNG) Pty Ltd is an energy company focused on the development of a highly prospective oil play in the New Ireland Basin of Papua New Guinea.
bright spotin the apex of broad anticlinal feature in the central New Ireland Basin
Peak Oil) was established in 2007 for the purpose of exploring the hydrocarbon potential of the New Ireland Basin located in northernmost Papua New Guinea. In August 2013 the company received a petroleum prospecting licence (PPL352) over 183 graticular blocks covering approximately 15,680 square kilometres (approx. 3,875,000 acres).
fadeout, possibly related to the escape of subsurface hydrocarbons along a fault-controlled gas chimney, and flat-lying seismic reflectors or
bright spotsinterpreted as possible hydrocarbon accumulations.
Peak is a private Australian company (ACN 136 943 014) registered as a foreign corporation in PNG (No. 3-68746). The Peak board is technically and commercially experienced in deep-water resource exploration projects throughout the SW Pacific.
Peak was granted a Petroleum Prospecting License (PPL 352 – 100%) in August 2013 covering 15,680 km2 of onshore and offshore acreage in the New Ireland Basin. It has an additional prospecting licence under review in the PNG Dept of Petroleum & Energy.
The strategy of the Company is to de-risk exploration in the New Ireland Basin through a combination of technical excellence, commercial innovation and international partnerships, structured as farm-out agreements with E&P companies experienced in conventional offshore oil production.
Level 16, 499 St Kilda Road, Melbourne, Victoria, 3004.