2nd load due off on 19 August!!First Tui oil shipment loaded off...

2nd load due off on 19 August!!

First Tui oil shipment loaded off NZ
August 16, 2007 - 3:05PM

The first oil from the offshore Taranaki Tui oil field, about 300,000 barrels, has been loaded for shipment to Caltex refineries in Sydney and Brisbane.

The oil properties and quality were in line with pre-production expectations, according to preliminary testing from the production wells.

Transfer of oil is slower than expected to the floating production, storage and offtake vessel (FPSO), which is designed to handle up to 50,000 barrels a day.

Oil is being loaded onto the vessel at a rate of 42,000 barrels a day.

"However, system uptime is improving quickly as experience in operating the new facility is gained. Some minor process de-bottlenecking is being implemented, which is expected to allow the full-design production rate to be achieved within the next few weeks," the field's partners said.

The second shipment of crude is scheduled for loading on August 19.

First oil from the Tui fields, about 50km off the west coast, was produced on July 31.

Tui is expected to quickly reach its peak of 50,000 barrels of oil a day before production tapers off. The field is expected to have a 10-year life span.