ExxonMobil announces positive results on Muruk-1 sidetrack well

IRVING, US: ExxonMobil Corporation (XOM) announced positive results on the Muruk-1 sidetrack well in the Papua New Guinea (PNG) North Highlands, 13 miles (21 kilometres) north-west of the Hides gas field.

The Muruk-1 sidetrack well encountered high-quality sandstone reservoirs south-west of the Muruk-1 natural gas discovery announced in late 2016. The sidetrack well was safely drilled to 13,550 feet (4,130 meters).

ExxonMobil has a long and successful history of exploring, developing and commercialising assets in PNG.

Oil Search began drilling the Muruk-1 well on 2 November 2016. Petroleum prospecting license 402 covers 126,000 acres (510 square kilometres) 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 an operator.

“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 PNG LNG project,” said Steve Greenlee, president of ExxonMobil Exploration Company.

“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,” added Greenlee.

© Worldofchemicals News

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