No gas at ExxonMobil's PNG exploration well

9/20/2012

No gas at ExxonMobil's PNG exploration well

SYDNEY -- Plans for a possible expansion of ExxonMobil's billion PNG LNG project in Papua New Guinea suffered a slight setback after an exploration well failed to discover any natural gas.

The Trapia-1 well did not intersect any prospective reservoir intervals before reaching its total depth of 3,800 m, the U.S. company's joint venture partner Oil Search said in a statement.

Hopes that the partners will find enough natural gas to expand the project two three LNG production units from the two currently under construction were recently buoyed by a large gas discovery at the P'nyang prospect. The venture is also exploring for more gas at the Hides prospect and analysts remain optimistic that a third production unit, or train, will eventually be constructed.

Dow Jones Newswires

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