US oil major Exxon Mobil Corporation has announced a new natural gas discovery at the North Highlands in Papua New Guinea.
The newly discovered site is nearly 21km from the Hides Gas Field.
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Exxon Mobil holds 42.5% interest in this newly discovered site, while Oil Search and Santos subsidiary Barracuda Limited own 37.5% and 20% respectively. Oil Search will be the operator of this site.
The drilled Muruk-1 well was safely excavated up to 3,130m and it encountered similar high-quality sandstone reservoirs as found in the Hides field.
Covering an area of 126,000 acres, the well is located in petroleum prospecting licence 402.
The company is currently evaluating the drilling results to determine the size of the discovery.
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By GlobalDataExxon Mobil Exploration president Steve Greenlee said: “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.”
“Over the coming months we will work with our co-venturers to better determine the full resource potential.
Greenlee 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.”
Oil Search commenced drilling the Muruk-1 well on 2 November last year.
Based in Irving, Texas, Exxon Mobil is one of the world's largest refiner and marketer of petroleum products.
