Tui partners aim for reserves boost

Production from the Tui offshore oilfields in the Taranaki basin totalled 9.12 MMbbl in the year to June 2009, according to New Zealand Oil & Gas (NZOG).

Offshore staff

WELLINGTON, New Zealand -- Production from the Tui offshore oilfields in the Taranaki basin totalled 9.12 MMbbl in the year to June 2009, according to New Zealand Oil & Gas (NZOG).

Although this figure exceeded the target of 9 MMbbl, output will likely slip to 5.1 MMbbl by June 2010 as water production increases. However, the partners aim to replenish reserves by exploring two near-field prospects towards year-end, using the semisubmersible Kan Tan IV.

Prior to that campaign, the rig will drill the Hoki prospect in exploration permit 38401, 150 km (93 mi) northwest of New Plymouth – NZOG agreed to acquire 10% of this concession early in July.

Hoki is a large, potentially oil-bearing prospect on the western margin of the Taranaki Basin. The Hoki-1 well will test both the primary Island Sandstone reservoir and a secondary target in the North Cape formation.

Elsewhere in this region, final pre-commissioning testing and certification is taking longer than expected at the Kupe development (NZOG 15%) production station near Hawera. There may be further schedule delays, but operator Origin Energy anticipates bringing first gas from the field ashore in the final quarter of the year.

07/30/2009

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