This presentation describes and highlights key upstream and exploration phases in Papua New Guinea (PNG) in the context of ExxonMobil’s activity in country. A linkage is made between geological and geophysical understanding, technology and permitting/ fiscal/ operating arrangements with five distinct phases recognised: (1) play definition; (2) technology advancement; (3) oil and gas discoveries; (4) search for oil ullage; and (5) search for new gas plays and ullage.

ExxonMobil made its entry into the upstream in PNG nearly 80 years ago with the formation of Australasian Petroleum Company (APC). Through strategic mergers and acquisitions over the years, ExxonMobil emerged as a key player in PNG post 2000. The company focused on monetising its stranded gas resources with first LNG from PNGLNG 2014.

ExxonMobil continues to conduct exploration in the Eastern Fold Belt for material opportunities (currently acquiring new onshore seismic) and Western Fold Belt for new plays and future near infrastructure ullage. Key exploration tests include the large isolated carbonate buildups in the east and “near-field wildcats” in the west. To date, we have successfully played the “long game”, and within this context we will continue to explore for accretive resources in country.