Oil Search Strikes More Gas In Papua New Guinea
19 April 2012 - 6:16PM
Dow Jones News
Oil Search Ltd. (OSH.AU) said Thursday it has struck more gas in
Papua New Guinea, firming up the potential of its recent P'nyang
discovery to support an expansion of its US$15.7 billion gas-export
joint venture with ExxonMobil Corp. (XOM).
Oil Search said a sidetrack well to its recent P'nyang South-1
well has found the original gas zone extends about 200 meters
deeper than the lowest known gas in P'nyang South-1, indicating an
increase in the total gas column to about 380 meters.
Exxon and partners including Oil Search and Australia's Santos
Ltd. (STO.AU) want to ship liquefied natural gas from the
foundation stage of PNG LNG to Asian buyers in 2014. They are
trying to discover enough new gas to expand the massive terminal to
three LNG production units from the original two currently under
construction.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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