PESA SA/NT Branch October Luncheon
Thursday, 24 October @ 12:00 pm - 2:30 pm (Australia/Adelaide time)
$25.00 – $75.00
Guest Speaker(s): Tim Rady and John Chambers
John Chambers
Managing Director, Larus Energy Limited
John Chambers is an energy executive with 38 years of global experience across exploration, development and production activity in technical, commercial and senior management roles. John retired from Santos at end 2022 where he had been Vice President for Offshore Upstream, Northern Australia and Timor-Leste. Other roles John had variously held in Santos include Vice President and Country Manager Santos PNG, Asia Pacific Exploration Manager, President Santos Bangladesh, Country Manager Santos Vietnam, Country Manager Santos India and Exploration Manager Onshore Australia. John has served on the Council of the PNG Chamber of Mines and Petroleum as well as on the Executive of the Australia-PNG Business Council.
Prior to joining Santos, John worked extensively throughout Western Australia, Southeast Asia and South America for Woodside, LASMO and Venture Production. John has a BSC (Hons) Degree with a Geology major from University of Melbourne and a combined UNISA/UCL MBA with an energy focus and is a Graduate of AICD. John was appointed Managing Director of Larus Energy Limited in 2024 and also runs a consultancy business, Wollemi Energy Consultants, which focuses on assisting developing nations and resources companies navigate the energy transition while optimising benefit sharing.
Mr. Tim Rady
Managing Director, Geomorph Energy, GME Commodities
Tim is a geophysicist with 19 years’ experience in the oil & gas industry, specialising in seismic interpretation, play analysis, prospect maturation and opportunity evaluation. He has worked for Santos, Premier Oil and TotalEnergies on a broad range of new ventures, exploration and development projects across the globe. Tim currently consults to the energy industry and is the Chief Geoscientist for entX Limited’s underground hydrogen storage projects in the Polda Basin. Tim holds a BSc (Hons) in Petroleum Geophysics from the Australian School of Petroleum and an MBA from the London Business School.
An emerging new Petroleum System with world-class plays in the
Torres Sub-Basin, Offshore Papua New Guinea
Tim Rady1 and John Chambers2
1 Geomorph Energy
2Larus Energy Limited
ABSTRACT
The Papuan Basin is the only basin with production in Papua New Guinea but is relatively unexplored for a typical Australian Continental Margin Mesozoic basin. It hosts the Kutubu Oil Field Developments and the PNG LNG project, as well as several gas fields that are planned to be developed in the coming years, but its southeastern extension, the Torres Sub-Basin, remains undrilled. Modern proprietary and regional multi-client seismic data in the offshore Torres Sub-Basin is now revealing an active Petroleum system with a generating Late Cretaceous Source rock and three main identified play types:
- Miocene deep-water clastics in a large submarine Miocene to Pliocene foldbelt
- Pinch-out plays of Miocene to Pliocene age against a basement high
- Palaeogene carbonate build-ups on basement highs
This presentation will focus on the Miocene to Pliocene submarine foldbelt plays within the Larus Energy-operated PPL579 license area that was covered by the Nanamarope 3D broadband PSDM seismic survey (acquired in 2023 by Larus Energy and Searcher). The pinch-out play is within the recently awarded Larus Energy-operated PPL695 license in the foreland basin south of the foldbelt, while TotalEnergies is proposing to test the Palaeogene carbonate play with the Mailu-1 well in 2025.
The Nanamarope 3D seismic provides high-resolution images of large-scale submarine fan complexes, deposited during the Mid-Miocene, linked to active tectonism and the formation of the proto–Owen Stanley Range. The images suggest significant reworking of these turbidite systems by bottom currents into likely high reservoir quality contourite deposits with a wide spectrum of features formed during synchronous and asynchronous interaction of turbidity flows and bottom current activity. It is observed that bottom currents provide a mechanism to redistribute coarser-grained material up-slope and beyond the limits of the traditional turbidite fairway.
The new 3D seismic has allowed Larus to complete detailed structural mapping, update GDE interpretations, identify evidence for hydrocarbon migration and integrate petroleum systems and seismic synthetic forward modelling to derisk the prospectivity. Larus Energy is planning on drilling the giant Nanamarope Prospect in 2025 which, if successful, will open a large new play fairway for exploration and development and provide a much-needed revenue source for the nation of Papua New Guinea
Event Details:
Thursday, 24 October 2024
Luncheon: 12 pm for a 12:30 pm start
Place: Ayer’s House, 288 North Tce, Adelaide
Includes a 2-course lunch and drinks
Bookings close 1 pm Monday, 21st October 2024
Any late bookings will incur an additional $20 fee. Strictly no walk-ins.
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