Exxon Mobil announces new gas discovery in Papua New Guinea

[BENGALURU] Exxon Mobil Corp announced on Wednesday a new natural gas discovery in Papua New Guinea.

ExxonMobil said it has a 42.5 per cent stake in the project, while the rest of the interest is owned by Oil Search Ltd and Santos Ltd, with Oil Search as the operator.

"We are excited by the results of the Muruk-1 exploration well, which confirms the presence of hydrocarbons in the same high-quality sandstone reservoirs as the Hides field that underpins the PNG LNG project," said Steve Greenlee, president of ExxonMobil Exploration Company.

The PNG LNG Project is a 6.9 million tonne per annum integrated LNG project operated by ExxonMobil PNG. The gas is sourced from seven fields, including the Hides, Angore and Juha gas fields.

REUTERS