Oil Search Ltd., Sydney and Port Moresby, has bought 30% interest in each of five permits in the Papua New Guinea eastern Foldbelt from ExxonMobil Corp.
ExxonMobil acquired interest in the permits—PPLs 474, 475, 476, 477, and retention lease PRL 39—when it completed its purchase of InterOil Corp. earlier this year.
The permits are nearby the Elk-Antelope fields in PRL 15 in which Oil Search and ExxonMobil are joint venture participants along with operator Total SA. Three of the five permits in the farm-in deal contain recent gas discoveries: Triceratops (PRL 39), Bobcat (PPL 476), and Raptor (PPL 475).
As part of the farm-in, Oil Search will run a seismic program across the five licenses during the remainder of 2017 and into early 2018 on behalf of operator ExxonMobil.