Exxon Mobil Corporation announced Wednesday a new natural gas discovery in the Papua New Guinea North Highlands, 13 miles northwest of the Hides Gas Field.
The Muruk-1 well encountered similar high-quality sandstone reservoirs as the Hides field and was in line with pre-drill expectations, according to an Exxon statement. The well was safely drilled to 10,630 feet, with evaluations currently 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 ExxonMobil Exploration Company.
“Over the coming months we will work with our co-venturers to better determine the full resource potential,” he added.
“ExxonMobil has been involved in exploration in Papua New Guinea since the 1930s. The Muruk exploration success demonstrates the strength of ExxonMobil’s long-term investment approach and reaffirms its commitment to Papua New Guinea,” Greenlee concluded.
Drilling operations at the Muruk-1 well began on Nov. 2. The well is located in petroleum prospecting license 402, which covers 126,000 acres.
Interest owners in the well 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.
Source : Rigzone