Oil Search to start seismic programme

OIL SEARCH will start a seismic acquisition programme in the third quarter of this year over the licenced areas in the onshore Papuan Gulf basin, where it recently announced a farm-in arrangement with ExxonMobil.
Managing director Peter Botten said in the company’s second quarter report for this year that for the rest of the year and into next year, Oil Search would operate a seismic programme across the blocks on behalf of the joint ventures, focused on high grading leads and prospects for future drilling.
“The licences, PPLs (petroleum prospecting licences) 474, 475, 476 and 477 and PRL (petroleum retention licence) 39, are located in the same highly prospective geological province as the world-class Elk-Antelope fields,” Botten said.
In May, Oil Search announced that it had entered into arrangements regarding acquisition of ExxonMobil affiliates of a 30 per cent interest in each of the five licence.
As part of the proposed farm-in arrangements, Oil Search will undertake a seismic acquisition programme over the licences on behalf of the operator.
In a recent interview with The National, ExxonMobil PNG Ltd managing director Andrew Barry said the company was excited about bringing Oil Search on board.
“There are five licences areas that we acquired with the acquisition of InterOil,” Barry said.
“We have done an arrangement with Oil Search.
“When we acquired these licence areas, we worked together with Oil Search.
“One of the things they (Oil Search) do is they do seismic activities really well so they will be performing seismic activities in these licence blocks.”