ExxonMobil sees PNG as a significant focus area

By PETER ESILA
Papua New Guinea represents one of ExxonMobil’s most significant focus areas in the world, with significant new explorations in Western Highlands, the Eastern fold belt and offshore in the Gulf of Papua.
Managing director Andrew Barry told the Petroleum and Energy Summit in Port Moresby yesterday that a recent new gas discovery at Muruk was close to the Hides field.
“If a planned second well this year confirms its commerciality, Muruk will provide additional resources for the PNG LNG Project,” he said.
“Our investment in the acquisition of InterOil last year demonstrates the great confidence ExxonMobil has in PNG and the opportunity which exists to expand our business significantly and deliver additional benefits to this country.
“We have a large Eastern fold belt seismic programme which is continuing through this year. We are also planning to shoot 3D seismic in 2019 in our deep water offshore licences in the Gulf of Papua which will allow us to also further evaluate potential opportunities in those resources.”
He said an independent P’nyang South-2 well in the Western recertification of reserves was underway and expected to lead to an increase in the certified P’nyang resource size.
“P’nyang represents a further multi-billion dollar investment that extends gas pipeline infrastructure into Western Province.”