ExxonMobil finds hydrocarbon reservoirs onshore Papua New Guinea

ExxonMobil finds hydrocarbon reservoirs onshore Papua New Guinea

5:10 AM, 16th January 2018
ExxonMobil logo

IRVING, US: ExxonMobil Corporation (XOM) said that it came across hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea.

The well was safely drilled to 8,940 feet (2,725 meters), reaching high-quality, hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones, consistent with pre-drilling expectations. The well confirms the southeast extension of the field.

Oil Search began drilling the P’nyang South-2 well on Oct. 22, 2017. The well is located in petroleum retention license 3, which covers 105,000 acres (425 square kilometres).

ExxonMobil affiliates operate the license with a 49 percent interest in the block. Affiliates of Oil Search, drilling operator, have a 38.5 percent interest and JX Nippon has 12.5 percent interest.

“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,” said Liam Mallon, president of ExxonMobil Development Company.

“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. We are continuing with our active onshore and offshore exploration program in an effort to provide additional resources to expand existing and planned development projects,” added Mallon.

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