NZOG outlines offshore New Zealand exploration plans

Offshore staff

WELLINGTON, New ZealandNew Zealand Oil and Gas (NZOG) is considering drilling two wells in the offshore Taranaki and Canterbury basins.

One could be on the Kaheru prospect in the company’s operated PEP 52181 permit offshore Taranaki, although current economic conditions make drilling using a jackup unlikely before May 2016.

Elsewhere in the Taranaki basin, NZOG is a partner in the OMV-operated Matuku (PEP 51906) permit. Last year the 400-sq km (154-sq mi) Kaka 3D seismic survey was acquired in the southeast of the concession. Interpretation is progressing, and final pre-stack depth migration processing is expected to be completed before the end of this year.

NZOG has an interest in Australian E&P company Cue Energy, a partner to Todd Exploration in the Aihe (PEP 54865) permit. The duo plans a 3D seismic survey early next year subject to vessel availability, and may then elect to commit to a well before December 2016 or surrender the permit.

In the Canterbury basin NZOG operates the Clipper (PEP 52717) permit. The company and Beach Energy are in talks to bring in further partners to drill the Barque prospect in the Clipper Graben, thought to potentially hold 530 MMboe.

They must decide whether to drill a well by April 2016.

Over the Vulcan (PEP 55793) and Toroa (PEP 55793) permits operated by Woodside Energy, Dolphin Geophysical has this year acquired two 1,100-sq km (425-sq mi) 3D seismic surveys, both currently undergoing interpretation. NZOG expects to receive an update data set before year-end.

11/09/2015

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