Mobil Confirms Significant New Gas Fields Offshore Western Australia.FAIRFAX, Va.--(BUSINESS WIRE)--Oct. 20, 1999-- Mobil Corporation announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Mobil Exploration & Producing Australia Pty Ltd PTY LTD Propriety Limited (company structure in Australia) , has found significant new gas resources in the Carnarvon Basin, off the northwest coast of Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. . This follows two recent major discoveries in exploration permit WA-267-P, in which Mobil has a 25 percent interest. The Orthrus-1 well, the second well of a six-well exploration program in the permit, spudded on October 1 in 3,937 feet (1,200 meters) of water. It reached a depth of 11,712 feet (3,570 meters) and has intersected a total of 173 feet (53 metres) net gas pay. The Orthrus-1 well is located about 16 miles southwest of the Geryon-1 well, the first exploration well in WA-267-P. Geryon-1 was drilled to a total depth of 11,624 feet (3,543 meters). It encountered three gas zones containing good quality sands, with a total net pay of 370 feet (113 meters). Geryon-1 lies in 4,039 feet (1,231 meters) of water. The Geryon and Orthrus discoveries lie in deepwater to the north and northwest of the giant Gorgon gas field in which Mobil holds a 1/7th interest, together with Chevron, Texaco and Shell, each of whom hold 2/7ths. "These two discoveries complement the world-class certified See certification. proven resources (13.8 trillion cubic feet) of the Greater Gorgon area", said M. W. Scoggins, President, International Exploration and Producing, Mobil Oil Corporation. "The immense gas resources in the area are capable of supporting a long-term, gas business serving regional LNG LNG (liquefied natural gas): see under natural gas. markets and the growing Western Australian demand." Drilling in WA-267-P will continue in the first quarter of 2000 when the deepwater rig Marine 500 returns from its other exploration commitments. The operator of permit WA-267-P is West Australian West Australian commonly refers to people or things from Western Australia. Specific things to which it may refer include:
WAPET West Australian Petroleum Pty Ltd ) on behalf of Mobil and the other joint venture participants; Chevron Asiatic Ltd and Texaco Australia Pty Ltd, each with 25 percent, and Shell Development Australia Pty Ltd and BP Amoco Exploration (Alpha), each with 12.5 percent. |
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