Offshore staff

WELLINGTON, New Zealand – A maintenance program is under way in New Zealand’s offshore Taranaki basin that involves stabilizing the pipeline and umbilical that runs from the Kupe field to the associated onshore production station.

According to partner New Zealand Oil & Gas (NZOG), the action was undertaken following an inspection that identified possible design flaws.

At the Tui area offshore oil fields in the same basin, where NZOG is also a partner, repairs are being completed to the gas lift compressor units.

In Taranaki basin offshore permit PEP 51311, where NZOG has a 90% operating interest, the project team are negotiating for a rig to drill the Kakapo oil prospect.

This comprises a stacked series of Motueka coastal sands which are laterally truncated, and prognosed to be sealed by deep canyons. Mean prospective oil resources are estimated at more than 200 MMbbl. Seismic modeling has lifted the chance of success, due to indications of a small gas cap on the main postulated oil column.

ASX-listed Raisama will earn a 10% stake in the permit by paying 20% of the first well costs, capped at $3 million. NZOG continues farm-out discussions with other interested companies.

10/26/2011