tui update

NZOG has updated the production statistics for TUI.

"Oil Production since 1 July 2008:

1 July-30 September: Approx 3.15 million barrels. NZOG's share of production approx 390,000 barrels.

NB: In mid-September there was a planned slow down in production to allow for tank cleaning. Full production has resumed with a forecast daily production rate of approx 34,000 barrels of oil."

So apparently the water cut has increased now to the point where they will not be able to regain the former 40,000 bopd level
Obviously even at the new average daily output TUI will still produce just over 1 million barrels for October and after 4 months will be almost at the halfway mark to the expected full year yield of 9 mmbo.

The chart for Tapis prices is as follows
Tapis Benchmark Crude - the weekly average Tapis price per barrel

Week ended Average Tapis Price NZ$ Equivalent
26/09/08 US$105.38 NZ$153.50
19/09/08 US$99.84 NZ$145.31
12/09/08 US$109.60 NZ$167.64
05/09/08 US$117.08 NZ$175.00
29/08/08 US$123.48 NZ$176.27
22/08/08 US$121.18 NZ$170.99
15/08/08 US$123.38 NZ$174.54
08/08/08 US$129.89 NZ$184.24
01/08/08 US$135.03 NZ$183.71
25/07/08 US$139.87 NZ$186.49
18/07/08 US$151.97 NZ$198.39
11/07/08 US$148.64 NZ$195.83
04/07/08 US$148.60 NZ$195.53

While the NZ$ equivalent is more relevant to NZO than to PPP it does give a useful point of comparison.