The Oil & Gas Journal the sandstone reservoirs, similar to those in Hides, were found following drilling of the well to 10, 630 feet.
The Muruk-1 exploration well (PPL 402) is located north west of the Hides gas field. Hides gas field is the main source of gas for the new Papua New Guinea LNG project
According to ExxonMobil, the well results were in line with predrill estimates, suggesting the Muruk-1’s target Toro formation could contain 2 trillion cubic feet (tcf) of gas
Santos Ltd. a subsidiary of Barracuda Ltd. recently signed a farm-in agreement with ExxonMobil and Oil Search Ltd. to take a 20 per cent interest in the Highlands permit PPL 402, which covers 126,000 acres
Oil Search spudded Muruk-1 on Nov. 2, 2016. Evaluation is ongoing of the Toro formation, but the Muruk-1’s early result “underpins the PNG LNG project,” ExxonMobil’s Steve Greenlee said.
ExxonMobil owns 42.5% interest in PPL 402, Oil Search is the operator with 37.5 per cent interest.
Evaluation is ongoing of the Toro formation, but the Muruk-1’s early result “underpins the PNG LNG project,” ExxonMobil President, Steve Greenlee, says.
Sandstone reservoir refers to sandstone that contains petroleum which can be extracted. LoopPNG