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P’nyang drilling complete

The well, which is being operated by Oil Search on behalf of the PRL-3 Joint Venture, has encountered gas in good quality Toro and Digimu sands, while the Emuk sands appear to be largely water-bearing.

“We are pleased with the P’nyang South-2 ST1 results, which confirm the extension of the P’nyang field to the southeast,”? said Oil Search CEO Peter Botten.

“The PRL-3 Joint Venture is evaluating the well results, including the implications for 1C and 2C gas resource volumes in the field.

“Oil Search is confident that the well’s primary objective, to migrate 2C contingent gas resource to 1C contingent resource in this area and to support marketing and financing activities for LNG expansion, will be met.”?

A recertification of the field’s gas resources by an independent expert is underway and is expected to be completed around the second quarter of 2018.

The Joint Venture is also working with the PNG Department of Petroleum to progress the offer of a Petroleum Development Licence (APDL 13) over P’nyang, currently subject to an application.

With the well presently being plugged and abandoned as planned, work is continuing on selecting the optimal development concept for the field.

The PRL-3 Joint Venture is made up of ExxonMobil affiliates (49 per cent), Oil Search (38.5 per cent and operator) and NOEX, an affiliate of JX Nippon (12.5 per cent).

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