Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Pateke-4H Weekly Update

20 May 2014

Pateke-4H Weekly Update

The Pateke-4H well in PEP 38158, offshore Taranaki, has been successfully completed and suspended for production at a later date, the operator has advised.

Production from Pateke-4H is planned for the first half of 2015 following the installation and commissioning of a sub-sea flow-line and ancillary control equipment connecting the well to the Tui Field gathering system. This work is scheduled to begin in the first quarter of 2015.

Preparations are being made to relocate the Kan Tan IV semi-submersible drilling rig to the northeast of the Tui field to the Oi-1 exploration well location.

On current planning Oi-1 is expected to commence drilling during the last week of May. The operator will make a further announcement then. New Zealand Oil & Gas advises it’s aware the other joint venture partner, Pan Pacific Petroleum, has released its estimate of prospective resources at Oi.

New Zealand Oil & Gas has a 27.5 per cent interest in Tui. The other Tui joint venture partners are:
• AWE Limited (via subsidiaries) (Operator) 57.5%
• Pan Pacific Petroleum (via subsidiaries) 15.0%

AWE and New Zealand Oil & Gas are participating in the Oi well at reduced equities of 31.25 per cent and 18.75 per cent respectively, with the option to restore their full equities in any development subject to their reimbursement of pro-rata costs and payment of a buy-back premium.


Click for big version.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Oil: 2017 Block Offer Petroleum Tender Launched

New Zealand is well-placed to take advantage of the economic benefits of oil and gas exploration, Energy and Resources Minister Judith Collins announced today at the launch of the 2017 Block Offer petroleum tender. More>>

ALSO:

OECD And Zero Carbon Reports: Environmental Pressures Rising In New Zealand

New Zealanders enjoy a high environmental quality of life and access to pristine wilderness. However, New Zealand’s growth model, based largely on exploiting natural resources, is starting to show its environmental limits with increasing greenhouse gas emissions and water pollution ... More>>

ALSO:

Statistics: Record Net Annual Migration Levels Continue

In the February 2017 year, 71,300 more migrants arrived in New Zealand than left, Stats NZ said today. This equalled the previous annual record set in January 2017. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news