Decision pending on Taranaki permit

A Roc Oil-led partnership expects a decision soon on their application for a permit offshore New Zealand in the Taranaki basin.

Offshore staff


PERTH -- A Roc Oil-led partnership expects a decision soon on their application for a permit offshore New Zealand in the Taranaki basin.

According to partner Mosaic Oil, the priority-in-time application relates to PEP 52181 over the near-shore Kaheru prospect, which the partners are aiming to drill in 2012.

Both PEP 52181 and the PEP 51151 permit are on the Eastern Margin trend, immediately next to Origin Energy’s Rimu, Kauri, and shallow Manutahi fields.

The prominent structural trend holds 10 fields and discoveries with cumulative resources of 360 bcf of gas and 89 MMbbl of oil and condensate.

Kaheru, in shallow near-shore waters on the southern end of this trend, is the primary structure in PEP 52181, with a mean prospective resource of 350 bcf and 10 MMbbl of condensate. Oil and/or gas-condensate may be trapped at several reservoir levels.

4/14/2010

More in Company News