InterOil begins drilling at Wahoo-1

InterOil Corporation started drilling the Wahoo-1 exploration well in Papua New Guinea following approval by the Papua New Guinea Department of Petroleum and Energy. Wahoo-1 is the second of four exploration wells InterOil plans to drill in the Gulf Province over the next 12–15 months.

Additionally, InterOil will drill up to four appraisal wells on the Elk-Antelope and Triceratops discoveries under a USD 300M exploration and appraisal program. The drilling program is one of the largest in Papua New Guinea and is part of InterOil’s exploration of four new petroleum prospecting licenses (PPL) granted by the Government of Papua New Guinea.

Nixon Duban, Papua New Guinea’s Minister for Petroleum and Energy, commented, “The drilling of Wahoo-1 is good news for PNG. We are excited at the potential of these exploration licenses and the wealth that could be unlocked. We hope the results live up to expectations. And we look forward to a mutually beneficial partnership with InterOil for many years to come.”

InterOil Corporation CEO Dr Michael Hession, commented, “We are delighted that our commitment to the country has been recognised through the continued support of the National and Provincial Governments, and Duban, the newly appointed Petroleum and Energy Minister.”