Semisub Kan Tan IV set for Bass basin drilling

The semisub Kan Tan IV is scheduled to drill appraisal well Trefoil-2 in the Bass basin this week.

Offshore staff

SYDNEY, Australia -- The semisub Kan Tan IV is scheduled to drill appraisal well Trefoil-2 in the Bass basin this week. The well, operated by Origin Energy, will appraise the Trefoil gas field discovered by the Trefoil-1 well in 2004. The company also plans to drill the Rockhopper-1 exploration well in the same permit.

At the conclusion of the Bass basin drilling campaign, the rig will be transported to New Zealand, where Australian Worldwide Exploration (AWE) will operate a four-to-five-well drilling program in the Taranaki basin. The campaign will include the Hoki-1 and Tuatara-1 exploration wells, and two wells near the Tui oil field.

AWE plans to spend approximately $175 million on the nine-month program.

“Some of the prospects to be drilled are lower risk offering the potential for incremental increases to the reserves of existing assets,” says Bruce Wood, MD of AWE. “Others however, while higher risk, such as the Hoki prospect in the Taranaki basin, could make a major addition to the company’s oil reserves.”

09/21/2009

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