Exxon Mobil, Oil Search in Papua New Guinea gas find

IRVING, Texas — Exxon Mobil has reported a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles (21 km) northwest of Hides gas field. Interest owners are Exxon Mobil (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.

The Muruk-1 well encountered similar high-quality sandstone reservoirs as the Hides field and was in line with pre-drill expectations. It was safely drilled to 10,630 ft (3,130 m). Evaluation is underway to determine the size of the discovery.

“We are excited by the results of the Muruk-1 exploration well, which confirms the presence of hydrocarbons in 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. “Over the coming months, we will work with our co-venturers to better determine the full resource potential.”

“Exxon Mobil has been involved in exploration in Papua New Guinea since the 1930s,” Greenlee added. “The Muruk exploration success demonstrates the strength of Exxon Mobil’s long-term investment approach and reaffirms its commitment to Papua New Guinea.”

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

The well lies in petroleum prospecting license 402, which covers 126,000 acres (510 km²)

Source: www.worldoil.com