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ExxonMobil announces new natural gas discovery onshore Papua New Guinea

ExxonMobil Corp announced a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles (21 km) northwest of the Hides Gas Field. Interest owners are ExxonMobil (42.5%), Oil Search (37.5%) and Barracuda, a subsidiary of Santos (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 under way 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,” Steve Greenlee, President of ExxonMobil Exploration Company, said. “Over the coming months we will work with our co-venturers to better determine the full resource potential.”

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

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

The well is located in petroleum prospecting license 402, which covers 126,000 acres (510 sq km).

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