Project Profile
Value: Undisclosed
Location: South of the Clipper permit, offshore Canterbury, New Zealand
Start-up Year: -
Area: 1,654 square km
2C Contingent Resource (December 2015): 20.97 million barrels of oil equivalent (boe), 98.28 petajoules of gas plus 4.91 million barrels of oil.
New Zealand Oil & Gas Ltd. has acquired interest in a new permit in New Zealand in the New Zealand Government’s 2013 Block Offer. New Zealand Oil & Gas has also been awarded 100% of PEP 55792 \'Galleon\' off Canterbury. Galleon is immediately south of the Clipper permit, where New Zealand Oil & Gas has a 50% interest. The award was conditional upon NZOG conducting a modest seismic program, which had been achieved by early January 2014. The survey mapped a tieline from the sub-commercial Galleon-1 gas condensate discovery, drilled by BP in 1985, to the Clipper prospect. The tie-line allowed geophysicists to analyse Clipper’s subsurface. NZOG believes the 1980s find suggests the area hosts a working hydrocarbon system.
In July 2015, NZOG said acquired 3D seismic data had highlighted several points of interest close to the Galleon-1 discovery. As a result, NZOG applied to defer its 3D seismic acquisition commitment under the licence terms to integrate new information into the Galleon permit prospectivity.
Operators:
New Zealand Oil & Gas Ltd.: Operator with 100% interest