pukeko - technical read, page-8

re: pukeko - nz govt article Transworld joint venture to drill two extra wells near Tui

26 May, 2004 Two additional offshore Taranaki wells are to be drilled in July and August by the Transworld-led PEP 38460 joint venture with the prospect of expanding the Tui and Amokura oil discoveries into a cluster-type oil field development.
This will mean the PEP 38460 partners will have drilled four offshore exploration wells in one permit this year – an unusual event in New Zealand petroleum exploration history and an indication of the recent step-up in interest in offshore exploration.

These additional wells Pateke-1 and Kiwi-1, are within 5km of Amokura to the north and west respectively. Tui is 4 km east of Amokura.

One of the partners New Zealand Oil & Gas Ltd said that on the current schedule, Pateke-1 is expected to commence drilling in July with Kiwi-1 following immediately in August.

NZOG executive chairman, Tony Radford said: "We have a near-term oil field development in our sights."

"Last year's discovery at Tui, together with success in finding the Amokura oil field last month, have encouraged NZOG and its partners to rapidly evaluate nearby prospects,” Mr Radford said.

Bruce Phillips, managing director of one of the other partners Australian Worldwide Exploration's said: “The immediate expansion of drilling activity is indicative of the encouragement the joint venture has received in the results to date.”

Mr Philips said the additional drilling is designed to add further recoverable oil reserves adjacent to the known discoveries to optimise a development scheme for the area.

The partners are using the Diamond Offshore Drilling Company’s semi-submersible rig Ocean Bounty.

The Ocean Bounty will drill a total of five wells in its current campaign. In addition to the four Transworld wells it will also drill the Takapou-1 well in PEP 38482 for the Shell-OMV-Todd partners. The Takapou-1, approximately 50 km north west of Maui, will be drilled in June-early July after the rig completes the current Pukeko-1 well. Takapou-1 operator Shell Todd Oil Services Ltd, says the well will take about 45 days to complete to a planned depth of about 4000 m.

Meanwhile the PEP 38460 partners have been granted an extension of 540 sq km at its southwest corner immediately west of the Maari oil field.

Participants in PEP 38460 are: operator New Zealand Overseas Petroleum Ltd (Transworld) 45%, AWE New Zealand Pty Ltd (AWE) 20%, Stewart Petroleum Co. Ltd (a subsidiary of NZOG) 12.5%, Mitsui E&P New Zealand Ltd 12.5% and WM Petroleum Ltd (Pan Pacific) 10%.