The company noted that it has started drilling, following the approval of the drilling plan by the Papua New Guinea Department of Petroleum and Energy.
InterOil has designed the Bobcat-1 exploration well to assess the hydrocarbon potential of the carbonates within the Bobcat structure, while data for assessment is gathered from shallow marine carbonate reservoir.
The well, which will be drilled vertically to a total depth of about 3,134m, is expected to take around 90 days to drill, log and test, contingent on drilling conditions.
InterOil, which holds a majority stake in the Elk-Antelope gas field that is being developed for a liquefied natural gas project with Total of France, has exploration licences over approximately 3.9 million acres.
