Project Profile
Value: US$380 million
Location: Taranaki Basin, Australia
Reserves: unknown
Start-up year: -
Permit PEP 51311, offshore Taranaki, was awarded to NZOG (90%, Operator) in January 2009, with a 5-year work programme comprising acquisition of 500km 2D seismic and 800km 2D reprocessing, the drilling of one well in 2011/12. All seismic acquisition/reprocessing/interpretation has been completed. NZOG has mapped an extensive portfolio of prospects and leads and is now seeking one or more partners to join with them in the drilling of the planned exploration well on the Middle Miocene Kaupokonui prospect.
Permit PEP 51311 is located in a highly productive area, surrounded by producing oil and gas fields. The Middle Miocene Maari Oil Field (ultimate recoverable 51 MMbbl) lies 20km to the west and the Paleocene Kupe Gas Condensate Field (27 MMbbl, 288 Bcf ultimate recoverable) lies 20km to the east, both within the same petroleum system invoked for PEP 51311.
Operators:
NZOG: Operator with 100% interest
(Raisama: farm out in February 2013)