NZOG looks for exploration partners in four permits

New Zealand Oil & Gas has started to look for exploration partners to join in four permits in the offshore Taranaki basin of New Zealand.

Offshore staff

WELLINGTON, New Zealand – New Zealand Oil & Gas has started to look for exploration partners to join in four permits in the offshore Taranaki basin of New Zealand.

PEP 53473 (Takapou) covers 853 sq km (329 sq mi) in water depths of 120-135 m (394-443 ft). Processing of 3D seismic taken this year should be done in November. The primary target, Kokako, is believed to be analogous to the Oi Kapuni Group, Farewell formation (“F” sand) oil prospect that the Tui joint venture is drilling in its adjacent permit. There is a commitment to drill due in March 2014.

PEP 52593 (Taranga) is 3,509 sq km (1,355 sq mi) in 135-150 m (394-492 ft) water depth 75 km (47 mi) offshore. Processing of new 3D seismic over theKaroro lead also is expected to be complete this November. Karoro has been mapped on 2D seismic as a potential anticlinal depth closure at the Late Cretaceous “North Cape” Formation reservoir level. In addition to Karoro there are several other follow up leads in the permit, including the large North Cape Formation onlap feature, Lead “F”, and the basement drapes encapsulated by the “Cetus” lead. Drilling here is also due in March 2014.

PEP 51558 (Kanuka) is 2,850 sq km (1,100 sq mi) in size in northern Taranaki basin. The key target, the Pliocene “Mensa” prospect, displays seismic amplitude anomalies that conform to structure on multiple levels, says NZOG. The drilling commitment is due before year end.

PEP 52181 (Kaheru) is 8 km offshore in 25 m of water, and holds several prospects and leads in the Western Taranaki Rift Flank and Arawa Ridge plays. Following the successful farm-out to Beach Energy by New Zealand Oil & Gas, a drilling commitment was made to the New Zealand government in October 2012. Planning is underway for an exploration well to be drilled in theKaheru prospect using a jackup rig (2014/2015). A suitable drilling rig will be New Zealand waters from 2014 onwards.

9/17/13

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