ExxonMobil has discovered hydrocarbons from P’nyang South-2 well in the Western Province of Papua New Guinea.
The drilling at the well was commenced by Oil Search last October.
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ExxonMobil Development Company president Liam Mallon said: “We are currently evaluating the well results and together with our co-venture partners will assess the P’nyang field resource potential and development pathway.
“We will work with the government of Papua New Guinea as we undertake this work.”
At a depth of 8,940ft (2,725m), hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones were found.
Mallon added: “When combined with our acquisition of InterOil Corporation, the increase in assessed reserves at Hides in the existing PNG LNG project and our recent Muruk discovery, this adds to our rapidly growing inventory of low cost of supply natural gas in Papua New Guinea.”
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By GlobalData“We are continuing with our active onshore and offshore exploration programme in an effort to provide additional resources to expand existing and planned development projects.”
This well is situated in petroleum retention licence 3, which encompasses 105,000 acres. ExxonMobil’s affiliates operate the license with 49% stake.
Affiliates of drilling operator Oil Search have 38.5% stake, while JX Nippon holds 12.5% stake.
Earlier this month, ExxonMobile reported positive results from its Ranger-1 exploration well.
This was the firm’s sixth oil discovery offshore Guyana since 2015.
Earlier, the company made discoveries at Liza, Payara, Snoek, Liza Deep and Turbot. These blocks put together are estimated to contain more than 3.2 billion recoverable oil equivalent barrels.
