Oil Search gets wet

OIL Search will plug and abandon the Korka-1 well in PPL260, Papua New Guinea, after pressure tests and fluid samples confirmed the presence of residual hydrocarbons and water in the primary target.
Oil Search gets wet Oil Search gets wet Oil Search gets wet Oil Search gets wet Oil Search gets wet

Pressure tests and fluid samples were carried out over the Toro Sandstone after high gas readings and oil shows were observed while drilling through the primary target.

Korka-1 is about 50 kilometres northwest of the Hides and Angore gas fields and was drilled as part of Oil Search's quest for more gas to underpin its liquefied natural gas expansion in PNG.

Oil Search holds a 50% interest in PPL 260 following the farm-out of a 20% interest to Nippon Oil. Eaglewood Energy holds the remaining 30%.

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