EXPLORATION WORLD
Drillforce Rig # 1 - rigging up
discovered a major petroleum system which is now being developed as second LNG project in PNG ,” Carroll said .
After reviewing the opportunities available in Papua New Guinea ( PNG ), the company began diverting focus on two major projects in New Zealand and Australia , the Petroleum Creek and Officer Basin projects respectively .
“ It ’ s a great opportunity ,” Carroll said . “ The company is totally oil focused and totally focused in New Zealand and Australia at this stage .”
Oil was discovered in the Petroleum Creek Project area in 1896 when railway workers were installing a new rail line near the coal developments at Greymouth . Small wells were drilled in 1902 and 1910 , with production appearing to have mostly dried up shortly after . According to Carroll , production completely ceased in 1986 and no work had taken place in the area since .
“ We came across the project around two years ago ,” he said . “ The permit was held by a passive
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