Integrated Marine CNG

Pasca A CNG Project

GEV signs HOA with Twinza Oil to evaluate commercialisation of gas from Pasca A via marine CNG

GEV has executed a Heads of Agreement (HOA) with Twinza Oil Limited (Twinza) to jointly work together to undertake a Pre-Feasibility Study to evaluate a commercialisation plan for gas from the PNG Pasca A field via marine compressed natural gas (CNG).

  • The Pasca A field (PPL 328) is located 270km North West of Port Moresby, Gulf of Papua New Guinea. The Pasca A field facilities are designed for the production of 125 MMscf/d and first liquids production currently scheduled for 1Q 2021;
  • GEV has proposed to use its proprietary CNG Optimum 200 MMscf ships to export natural gas to markets up to 2,500 km distance (including the east coast of Australia and domestic PNG);
  • GEV and Twinza will work together to define the commerciality of delivering marine CNG to key regional gas markets as well as assessing the technical, commercial and safety elements associated with a CNG project. If both parties agree to continue developing the CNG project then both parties:
    • may enter into detailed discussions on gas offtake; and
    • on an optional basis, the parties may agree and enter into discussions to acquire an interest in the other party’s project.

Twinza is a 100% owner and operator of the Pasca A field. In April 2018, following the successful appraisal drilling of the Pasca-A4 (AD1) well, the field was independently certified by Gaffney Cline & Associates. Discussions with the Department of Petroleum are almost concluded prior to the offer of Petroleum Development Licence for Pasca A which will result in the project commencing final engineering.

GEV Chairman & CEO, Maurice Brand said:  

The signing of this HOA with Twinza is significant for GEV as it represents the first steps towards monetising our proprietary CNG Optimum within the Australasian region. We have been evaluating PNG gas opportunities since early last year and closely monitoring the progress of Pasca A. Having completed our initial due diligence, we will now predominantly focus on working with Twinza to develop gas marketing opportunities so that they can complement their exciting gas development plans. We are confident of a positive outcome for monetising the gas via marine CNG. The Pasca field is the ideal example of a discovered gas field that, with a commercialisation plan, could be significantly enhanced through the adoption of a marine CNG solution to monetise gas.

Potential CNG Markets for Pasca A field – East Coast Australia & Domestic PNG

About Twinza Oil Limited

Twinza Oil Limited is an Australian registered, Oil and Gas Company focussed on the Asia-Pacific region. It is an established upstream onshore and offshore operator with offices in Singapore, Perth and Port Moresby. In Papua New Guinea Twinza is the operator of PPL 328 which contains the Pasca A gas-condensate field and has a 40% interest in PRL 38 which hosts the Pandora gas fields.

The majority shareholders of Twinza are Clough and Kerogen Capital.

The Clough family founded Clough Engineering in 1919. Clough Engineering entered PNG in 1989 and completed numerous oil and gas infrastructure projects including the Kutubu and Hides field development, the Kumul Marine terminal and the construction of the Napa Napa refinery.

Kerogen Capital is an independent private equity fund manager specialising in the international oil and gas sector with approximately US$ 2 billion under management. Kerogen is currently invested in 13 countries across 4 continents with a portfolio of 11 flagship oil and gas appraisal and development projects.