Exploration
The successful execution and start-up of the PNG LNG Project, ahead of schedule in 2014, is the result of ExxonMobil’s relentless focus since the late 1990s to commercialise gas in PNG.
We further believe there is significant remaining potential for the discovery of new resources.
ExxonMobil has a world class portfolio of exploration acreage in PNG, and covers discovered gas fields including Hides, P’nyang, and Juha, as well as what we believe is prospective acreage along trend with these gas discoveries.
Having a quality portfolio of exploration acreage allows us to manage risks across our business and by doing so, deliver the most profitable results. Historically one in three exploration wells is successful in finding commercial quantities of hydrocarbons, and when each well costs around US$100 million to drill, our significant acreage position and leading edge technical capabilities are what deliver maximum value to PNG.