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InterOil revises upwards PNG reserves

Interoil Elk 2 HOUSTON-BASED InterOil Corporation has revised upwards its total oil and gas reserves at two PNG fields by 6%, the company has announced. The increase is equivalent to 85.1 million barrels of oil.

An independent evaluation found InterOil had a best case estimate of contingent resources of 8.59 trillion cubic feet of natural gas and 128.9 million barrels of condensate at its Elk [pictured] and Antelope fields.

The results were higher than the 8.2 of natural gas and 156.5 of condensate estimated to be in reserve in 2009.

This came despite a company decision not to count estimated resources from the Mule Deer structure.



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