Oil Search hits more gas in Papua New Guinea
Oil Search, the owner of a 29 percent stake in the ExxonMobil-operated PNG LNG project, said the Muruk 1 exploration well encountered gas in the Toro formation.
In its filing to the stock exchange, Oil Search, the operator of the PPL 402, said the well reached a total depth of 3,130 meters.
The Muruk discovery is close to PNG LNG infrastructure and is located between the Hides and Juha gas fields. Subject to joint venture approval, the rig will commence drilling of a geological sidetrack down dip to the north east, to delineate the hydrocarbon-water contact within the Toro formation.
In November, Australian LNG player, Santos, signed a farm-in agreement for a 20 percent interest in the Petroleum Prospecting License 402.
Participants in the PPL 402 are Oil Search with a 37.5 percent, Santos with a 20 percent and Esso PNG Wren, a unit of ExxonMobil holding a 42.5 percent stake.
LNG World News Staff