tui production drop

The latest information posted on the NZOG website about production information from TUI indicates that they have now dropped their anticipated daily production target down from 14,000 bopd (that it has been for the last several months) to about 13,000 bopd.

It is hard to tell at this stage whether that will have much impact on their financial year target of about 5.1 million barrels.

At the latest update date of 10th January they had produced about 2.85 million barrels so they were a bit ahead of 50% of their financial year target with just under 6 months to go.

We must continue to remember that even at 13,000 bopd TUI is still producing at a much higher rate at this stage of its life than was originally envisaged when the development of the Tui prospects was undertaken