NORTH SYDNEY, Australia – The semisubmersible Kan Tan IV is expected to mobilize to New Zealand waters in August.
According toPanPacific Petroleum (PPP), it should be available to the Tui joint venture partners around late-October to drill the Oi-1 exploration well, followed by Pateke-4H, both in the PMP 38158 concession in the offshore Taranaki basin.
Should commercial discoveries result, both structures could be tied into the existing Tui facilities. Oi in particular would enhance and extend the life of theTui area oil fields.
If successful, Pateke-4H will also be completed by theKan Tan IV prior to the rig release. Tie-in to the Tui complex could follow in late 2014 followed by first oil in early 2015.
In late September, PPP adds, a new crude oil burning facility will start service on the FPSO serving the Tui fields.