A new source of energy for Asia and PNG
PEAK’s aim is to commercialise the production of oil and gas from our New Ireland Basin project.
Markets hungry for energy from this area include Asia (China, Japan and South Korea) and PNG. > Investors > Key attractions
Our exploration program is well advanced with 1,275 km of 2D marine broadband seismic data carried out in 2017. The survey identified the Exotica Formation – a giant (45 km long, 32 km wide and 250 m thick) carbonate debris reservoir play.
> The Exotica Formation > Findings
The next step in exploration of the giant carbonate debris reservoir is the use of 3D seismic to map out high porosity-permeability channelways as priority drilling targets.