Project Profile
Value: Undisclosed
Location: East of Oamaru, offshore New Zealand
Start-up Year: -
Estimated Reserves: 530 million barrels of oil
Area: 150km2
Water Depth: 400m – 1000m
The Barque prospect is located in permit PEP 38259 in the Canterbury Basin offshore Australia. NZOG operates the license with a 40 percent stake; while Beach Energy holds 35 percent; and AWE holds 25 percent.
This permit contains the Barque prospect. In late 2011 AWE agreed to transfer the Operatorship to NZOG. The deadline for commiting to drill a well has been extended to August 2012. This allowed time for NZOG to undertake a concerted international farm-out campaign. The objective is to attract into the joint venture a new partner with experience in drilling in frontier basins.
Operators:
NZOG: Operator with 40% interest
Beach Energy: 35% interest
AWE: 25% interest