Papua New Guinea
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Cue Energy sets big goals for 2024

This was said when chief executive officer Matthew Boyall presented at the recent Good Oil conference in Perth.

Boyall said that eight new production wells drilled during financial year 2023 in Mahato and Palm Valley, and that high activity levels planned to continue in 2024 to support production growth at Cue assets.

These included: 

• Cue intends to participate in up to seven planned development wells in Australia and Indonesia.

• The Paus Biru final investment decision would target 2025 first gas, amounting to 45 billion cubic feet of gas gross contingent resource, of which 6.7bcf is net to Cue.

• The Jeruk oil discovery development concept would be reviewed.

• Cue will continue to identify and assess further exploration opportunities in Mahato PSC.