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.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Indorama, Huvis to form low melting fibre JV in US

BANGKOK, THAILAND: Indorama Ventures Public Company Limited (IVL) and Huvis Corporation (HC) announced their intention to establish a 50:50 joint vent ...

Read more
Asahi Kasei to increase LIB separators capacity; invests ¥7.5 bn

TOKYO, JAPAN: Asahi Kasei Corporation said that it will increase production capacity for Celgard and Hipore li-ion battery (LIB) separator at its plan ...

Read more
Air Products to acquire Shell’s coal gasification business

LEHIGH VALLEY, US: Air Products and Chemicals Inc had an agreement to acquire Royal Dutch Shell plc’s (Shell’s) coal gasification technolo ...

Read more
AkzoNobel continues talks with possible buyers for chemicals business

AMSTERDAM, NETHERLANDS: AkzoNobel NV is continuing talks with three to four possible buyers of its speciality chemicals division, a spokesman said on ...

Read more
Evonik plans to expand PMMA compounding capacity at Osceola site

ESSEN, GERMANY: Evonik Industries AG said that it will begin construction of an additional line for compounding its Acrylite trademarked polymethyl me ...

Read more
Hexion sells additives technology business to Munzing

COLUMBUS, US: Hexion Inc has sold its additives technology group (ATG) business to Munzing Chemie GmbH (Munzing), a privately-owned speciality additiv ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X