The Kimu structure holds an estimated resource of over 1 trillion cubic feet (TCF) of recoverable gas. The Kimu-1 well has the potential to flow at rates in excess of 100 million cubic feet of gas per day.
In early 2003 the PRL 08 Retention Licence was awarded to the Joint Venture for a 5-year period and the Joint Venture is now examining marketing alternatives. Recent developments in commercialising PNG’s significant gas reserves has seen the Kimu gas field attracting renewed interest from both the PRL 08 Joint Venture and potential LNG customers. In this context, the permit is well situated (approximately 100 km from) the proposed sites of a planned LNG Facility.
Mosaic currently holds no assets in PNG outside the Kimu gas field Retention Licence.