Exxon Mobil Corporation announced a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles (21 kilometers) northwest of the Hides Gas Field.
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Interest owners are ExxonMobil (42.5 percent), Oil Search Limited (37.5 percent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent, 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 feet (3,130 meters). Evaluation is underway to determine the size of the discovery.
â€œWe 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,â€ said Steve Greenlee, president of ExxonMobil Exploration Company. â€œOver the coming months we will work with our co-venturers to better determine the full resource potential.â€
â€œExxonMobil has been involved in exploration in Papua New Guinea since the 1930s,â€ Greenlee added. â€œThe Muruk exploration success demonstrates the strength of ExxonMobilâ€™s long-term investment approach and reaffirms its commitment to Papua New Guinea.â€
Oil Search began drilling the Muruk-1 well on Nov. 2, 2016.The well is located in petroleum prospecting license 402, which covers 126,000 acres (510 square kilometers).
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