Our Business

P3GE views small scaled LNG production technologies as a key process to monetize ‘stranded’ gas. In addition, P3GE firmly believes LNG is fast becoming an industrial and commercial/residential fuel-of-choice. P3GE has positioned itself as LNG specialist company to assume leading role in the entire LNG activity chain from gas production/treatment to liquefaction (and/or sourcing of ready-made LNG) to shipping to storage to distribution to industrial and commercial/residential end-users. 

P3GE has developed a fast-track mechanism with the integration of internal capabilities within PK Group and alliance with technologies/process providers such that it can shorten project development time from conventional field development of 6 - 10 years to 3 - 4 years and at much lower costs. This will increase economic value of the project considerably.

Since its formation, P3GE has been actively involved in the following areas of LNG business, namely:

1. Exploration and Production of Natural Gas
                Thailand Exploration Block L18/50
                In 2008, P3GE acquired 100% shares in Auo Siam Marine Co., Ltd., apetroleum concessionaire having a 100% working interest in an onshore concession Block L18/50 in the northeastern region of Thailand. P3GE plans to carry out 3D and 2D seismic and acquisition in first half of 2011.

                Papua New Guinea Petroleum Prospecting License (PPL) No. 259
                In 2009, P3GE, through its subsidiary MFI (Cayman), acquired a 10% working interest in a gas rich PPL-259 in the Western Province of Papua New Guinea. PPL-259 is 5,666  square kilometers and contains P50 resources of approximately 2.4 Tcf (and P10 resources of 6.6 Tcf) of low contaminants and condensate rich gas.

                In 2011, the PPL-259 partnership comprising Talisman, Eaglewood and MFI drilled one gas and condensate discovery well in PPL-259 license. More wells are planned in 2013 and 2014.

                Papua New Guinea Petroleum Retention License (PRL) No. 28
                In 2011, P3GE, through its subsidiary MFI (Cayman), also holds 10% working interest in PRL-28 which has certified reserve of Pmean at 148.6 BCF and P10 at 243.8 BCF. This discovery is presently being considered for development with first production in 2015.

2. Liquefied Natural Gas (LNG) Production
                P3GE views small scaled LNG production technologies as a key process to monetize ‘stranded’ gas. In addition, P3GE firmly believes LNG is fast becoming an industrial and commercial/residential fuel-of-choice. P3GE has positioned itself as LNG specialist company to assume leading role in the entire LNG activity chain from gas                 production/treatmentto liquefaction (and/or sourcing of ready-made LNG) to shipping to storage to distribution to industrial and commercial/residential end-users. 

                In this regards, P3GE has also formed a separate alliance with Toyo-Thai Corporation PCL (www.toyo-thai.com) to build, own, and operate small-scaled LNG plant. Toyo-Thai Corporation PCL is a subsidiary of Toyo Engineering Corporation of Japan which is one the largest LNG plant EPC contractors in the world.

                Papua New Guinea LNG Production
                P3GE has been working with our partners, Talisman, Mitsubishi, Horizon Oil, and Eaglewood Energy to monetize gas assets in PPL-259 and PRL-28 since 2009. Pre-FEED studies of a 1.0 MTPA LNG plant were completed in 2010 with Final Investment Decision (FID) awaiting reserve confirmation from drilling campaign in 2013.

3. LNG Trading and Utilization               
                Indonesia-Thailand LNG Trading
                In 2011, P3GE was named Seller Representative by BPMIGAS of Indonesia. In the same year, P3GE executed LNG Master Sales and Purchase Agreement with BP Tangguh and PTT (Thailand’s National Oil Company). In July 2011, P3GE delivered first commercial cargo of LNG from BP Tangguh to PTT Receiving Terminal in Map Ta Phut, Thailand.