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Discoveries / Industry News / Onshore

ExxonMobile announces high-quality, hydrocarbon-bearing reservoirs from P’nyang South-2 well

ExxonMobil Corp. late Monday, January 15, announced that it encountered hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea.

“We are currently evaluating the well results and together with our co-venture partners will assess the P’nyang field resource potential and development pathway,” Liam Mallon, president of ExxonMobil Develop Co., said in a written statement. “We will work with the government of Papua New Guinea as we undertake this work.”

According to ExxonMobil, Oil Search began drilling the P’nyang South-2 well on Oct. 22, 2017. The well is located in petroleum retention license 3, which covers 105,000 acres (425 square kilometers).

The well was safely drilled to 8,940 feet (2,725 meters), reaching high-quality, hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones, consistent with pre-drilling expectations. The well confirms the southeast extension of the field.

“When combined with our acquisition of InterOil Corporation, the increase in assessed reserves at Hides in the existing PNG LNG project and our recent Muruk discovery, this adds to our rapidly growing inventory of low cost of supply natural gas in Papua New Guinea,” remarked Mallon. “We are continuing with our active onshore and offshore exploration program in an effort to provide additional resources to expand existing and planned development projects.”

ExxonMobil affiliates operate the license with a 49-percent interest in the block. Holding a 38.5 percent stake are affiliates of drilling operator Oil Search. JX Nippon owns the remaining 12.5-percent interest.

Published in Discoveries, Industry News, Onshore

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