PNG and Solomon Islands are part of a large island arc that extends as far west as Indonesia.
Current oil and gas regional production is mainly from carbonate reef deposits in Saluwati Basin Indonesia and Eastern PNG Basins.
Hardie Pacific is investigating similar carbonate reef structures within the extensive Solomon Seas.
After 3 years of studies and discussions with the Solomon Islands Ministry of Mines and Energy Petroleum Department, acquiring previous seismic for reprocessing, modern oil seep satellite imagery from the Solomon Seas area, we lodged a Petroleum Prospecting Application to explore.
This significant offshore area is contained within 466,000 km2 granted approval in August 2017 for a 12 year term under Petroleum Prospecting Licence PPL01/17, being the first offshore licence granted by the Solomon Islands Government.
By late 2019, we had completed an updated satellite imagery program looking for petroleum seeps, covering the bulk of the Solomon’s EZ territorial waters. This identified a number of areas of interest, including a prospect which continued across the EZ boundary into waters west of Bougainville. An application was lodged with the DPE, PNG and discussions commenced with the Bougainville Interim Government for their support.