Hoki well spud imminent

Offshore staff

WELLINGTON, New Zealand -- Drilling of the Hoki prospect in New Zealand’s Taranaki basin should start later this month or in March, according to partner New Zealand Oil & Gas (NZOG).

The well, in permit PEP 38401, will target the late Cretaceous sands encountered in the Tane-1 well which was drilled by Shell and BP in 1976 some 15 km (9.3 mi) southeast of Hoki,.

NZOG adds that Hoki-1 will be farther offshore than any previous Taranaki well, on the upper continental shelf in a water depth of over 300 m (984 ft). Although a relatively high risk, Hoki could contain substantial oil reserves.

After completing Hoki-1, the semisub Kan Tan IV will drill two wells in the PMP 38158 Tui permit, where NZOG has a 12.5% interest.

02/01/2010