Quality sandstone found

Business

ExxonMobil Corporation has announced positive results on the Muruk-1 sidetrack well 21 kilometers northwest of the Hides gas field in Hela.
The Muruk-1 sidetrack well encountered high-quality sandstone reservoirs southwest of the Muruk-1 natural gas discovery announced late last year.
The sidetrack well was safely drilled to 13,550 feet (4130 metres).
“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,” Steve Greenlee, president of ExxonMobil Exploration Company said.
ExxonMobil has a history of exploring, developing and commercialising assets in the country.
“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,” Greenlee said.
Oil Search began drilling the Muruk-1 well on Nov. 2, 2016. Petroleum prospecting licence 402 covers 510 square kilometres.
Interest owners are ExxonMobil (42.5 per cent), Oil Search Limited (37.5 per cent) and Barracuda Limited, a subsidiary of Santos Limited (20 percent, subject to regulatory approval), with Oil Search as operator.

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