Exxon Mobil announces positive Muruk-1 sidetrack well results

IRVING, Texas — Exxon Mobil Corporation has announced positive results on the Muruk-1 sidetrack well in the Papua New Guinea North Highlands, 13 mi (21 km) northwest of the Hides gas field.

The Muruk-1 sidetrack well encountered high-quality sandstone reservoirs southwest of the Muruk-1 natural gas discovery announced in late 2016. The sidetrack well was safely drilled to 13,550 ft (4,130 m).

“This important discovery confirms the extent of the Muruk area and further establishes Muruk as a potentially significant new discovery with the same high-quality sandstone reservoirs as the Hides field that underpins the PNG LNG project,” said Steve Greenlee, president of Exxon Mobil Exploration Company.

Exxon Mobil has a long and successful history of exploring, developing and commercializing assets in PNG.

“The diversity of our onshore and offshore portfolio demonstrates the strength of Exxon Mobil’s long-term investment approach and the opportunities that exist to grow our business in Papua New Guinea,” Greenlee said.

Oil Search began drilling the Muruk-1 well on Nov. 2, 2016.

Petroleum prospecting license 402 covers 126,000 acres in the Papua New Guinea Highlands.

Interest owners are ExxonMobil (42.5%), Oil Search Limited (37.5%) and Barracuda Limited, a subsidiary of Santos Limited (20%), subject to regulatory approval), with Oil Search as operator.

Source: www.worldoil.com