By December 28, 2016 Read More →

Exxon Papua New Guinea gas discovery announced

Exxon Papua New Guinea

Exxon Papua New Guinea discovery at the Muruk-1 exploration well has found the presence of hydrocarbons in sandstone reservoirs, similar to the Hides field. Stephanie Kelly photo.

Exxon Papua New Guinea PNG LNG project made up of seven fields

Dec 28 (Reuters) – Exxon Mobil Corp announced on Wednesday a new natural gas discovery in Papua New Guinea.

ExxonMobil said it has a 42.5 per cent stake in the project, while the rest of the interest is owned by Oil Search Ltd and Santos Ltd, with Oil Search as the operator.

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

The PNG LNG Project is a 6.9 million tonne per annum integrated LNG project operated by ExxonMobil PNG. The gas is sourced from seven fields, including the Hides, Angore and Juha gas fields.

(Reporting by Vishaka George in Bengaluru; Editing by Shounak Dasgupta)

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