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Fletcher Challenge Energy spuds second well

Fletcher Challenge Energy spuds second Pohokura well

3 May 2000, New Plymouth – Fletcher Challenge Energy will today begin drilling its second well at Pohokura. The well, Pohokura-2 will help to define the commercial viability of the discovery made with the Pohokura-1 exploration well last month.

The results from the Pohokura-1 discovery confirmed mean field size estimates of 430 bcf. This discovery well tested at stabilised gas rates of up to 17.0 million cubic feet per day with an associated 1200 barrels of condensate per day, a richer rate than estimated.

Pohokura-2 is targeting a depth of 3800 metres. It will be drilled approximately 8.5 kilometres offshore, five kilometres North-Northwest of the Pohokura-1 location. Drilling and logging of Pohokura-2 is expected to take five weeks. An additional period of up to two weeks will be required should production testing be carried out.

Pohokura-2 is the first of at least two appraisal wells that will be required to establish the ultimate commercial potential of the Pohokura field.

Once the appraisal programme is successfully completed, consideration will be given to the range of options that could be assessed for field development. Development planning would be run in parallel with gas marketing initiatives.

The Pohokura prospect is operated by Fletcher Challenge Energy (33.3%) on behalf of the PEP 38459 Joint Venture comprising of co-venturers; Preussag Energie (33.3%), Shell Petroleum Mining (18.3%) and Todd Petroleum Mining (15%).

ends

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