Exxon Mobil (NYSE:XOM) today announced positive results on the Muruk-1 sidetrack well in the north Highlands of Papua New Guinea North Highlands.
The Muruk-1 sidetrack well encountered high-quality sandstone reservoirs, southwest of the Muruk-1 natural gas discovery announced in late 2016. The sidetrack well was safely drilled to 13,550 feet.
ExxonMobil has a long and successful history of exploring, developing and commercializing assets in the region.
The new discovery site is 13 miles northwest of the Hides gas field.
Steve Greenlee, president of ExxonMobil Exploration Company, said: “This important discovery confirms the extent of the Muruk area and further establishes Muruk as a potentially significant new discovery with the same high-quality sandstone reservoirs as the Hides field that underpins the Papua New Guinea LNG project.
“The diversity of our onshore and offshore portfolio demonstrates the strength of ExxonMobil’s long-term investment approach and the opportunities that exist to grow our business in Papua New Guinea.”
Oil Search began drilling the Muruk-1 well in November, 2016.
The petroleum prospecting license covers 126,000 acres in the Papua New Guinea Highlands.
Interest owners 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.
