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

 

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news