BGP Completes 68 Pct of Seismic Survey Campaign Offshore PNG

UMC Energy has provided  another update on the progress of the 3000 line kilometre 2D seismic acquisition program, in Papua New Guinea, over the offshore Petroleum Prospecting Licences (PPL), PPL374 and PPL375, held 100% by Gini Energy Ltd (“Gini”).

BGP PNG Exploration’s 2D seismic acquisition vessel, the Dong Fang Kan Tan No. 1, to midnight on 26 December 2013, has recorded 2031 line km of 2D data, which represents completion of approximately 68% of the planned 2D survey.

Chris Hart, Technical Director of UMC Energy, stated “The 2D acquisition project continues to run to schedule, and no safety or environmental incidents have been reported.”

UMC Energy holds a 30% interest in Gini, with CNOOC Ltd holding a 70% interest. CNOOC is the Operator of these permits and is funding the entire cost of this survey.

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December 27, 2013