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- Release Date: 05/05/14 14:59
- Summary: MINE: NZO: Pateke-4H further update -production liner installed
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NZO
05/05/2014 12:59
MINE
REL: 1259 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H further update -production liner installed
Installation of a 6 5/8 inch slotted production liner has been completed at
the Pateke-4H well offshore Taranaki, New Zealand, the operator has advised.
At 11:00AM NZST the well had been drilled to a revised measured total depth
of 4,772 metres, including a 749 metre horizontal section through the
reservoir.
Pre-drill 2C resource estimates recoverable from Pateke-4H were 2.5 million
barrels, (687,500 barrels net to New Zealand Oil & Gas). While further work
is required to determine the expected recovery from Pateke-4H, initial
evaluation suggests a result consistent with pre-drill estimates. Further
details of resource estimates will be provided when the data has been fully
analysed.
The well will now be completed and suspended to enable production in Q1 2015,
following the installation of sub-sea flowline infrastructure and tie-back to
the Tui FPSO.
New Zealand Oil & Gas has a 27.5 per cent interest in Tui.
The other Tui joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%
Resources have been evaluated using a deterministic black oil simulation.
This statement has been compiled by New Zealand Oil & Gas Vice President of
Operations and Engineering Andrew Jefferies B Eng (Mech Hons), Msc Pet. Eng.,
MBA, a Society of Petroleum Engineers Certified Petroleum Engineer with over
23 years of industry experience, and accurately reflects the most current
information supplied by the joint venture operator.
John Pagani
External Relations Manager
+ 64 21 570 872
End CA:00250102 For:NZO Type:MINE Time:2014-05-05 12:59:47
