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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news