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- Release Date: 05/02/14 14:14
- Summary: MINE: NZO: Kan Tan IV moves to Pateke-4H
- Price Sensitive: No
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NZO
05/02/2014 12:14
MINE
REL: 1214 HRS New Zealand Oil and Gas Limited
MINE: NZO: Kan Tan IV moves to Pateke-4H
The Kan Tan IV semi-submersible drilling rig has finished its deployment in
the Matuku prospect in PEP 51906 and been handed over to the Tui joint
venture in PMP 38158.
Pateke-4H is a northern extension of the existing Pateke reservoir in the
producing Tui area oil fields, approximately 50km off the coast of Taranaki,
New Zealand, in water depth of about 124 metres.
The operator has advised that the rig was handed over this morning and is
moving into position for drilling.
The Pateke-4H well will be drilled to a planned total measured depth of 5,361
metres, including a 1,271 metre horizontal section.
The operator estimates that, if the Pateke-4H well is successful, it could
increase recovery from the Tui oil fields by approximately 2.5 million
barrels of oil. If successful the well will be completed and later tied back
to the existing Tui FPSO vessel, Umuroa.
In October last year New Zealand Oil & Gas more than doubled its interest in
the field, from 12.5 per cent to 27.5 per cent. The other Tui joint venture
partners are: AWE Limited 57.5% (Operator); and Pan Pacific Petroleum 15%.
New Zealand Oil & Gas has an interest in each of Matuku and Pateke, but the
joint ventures are different. Participants in the Matuku-1 well in PEP 51906
were OMV New Zealand (Operator) 65 per cent; Octanex 22.5 per cent; and New
Zealand Oil & Gas 12.5 per cent.
John Pagani
External Relations Manager
+64 21 570 872
End CA:00246684 For:NZO Type:MINE Time:2014-02-05 12:14:24
