At the end of last year the Maari oil field (Cue 5%) was producing around13,500 b/d.
Workovers have been completed on the MR3 and MR9 wells and more are scheduled for the current quarter, with the aim of increasing production from underperforming wells.
Following reinstatement of water injection (on completion of repairs to the water injection flowline), this is expected to provide pressure support to several of the producers and enhance production.
OMV operates the offshore PEP 51313 permit (Cue 14%). The joint venture is assessing remaining potential associated with the Matariki trend, updip of the Maari field.
Current studies are designed to determine the feasibility of acquiring additional 3D seismic to reduce the geologic risk of the remaining prospects.
By July 30, 2016, Cue will need to decide whether to proceed into the next stage of the permit, with associated commitments either for acquisition and processing of 100 sq km (38.6 sq mi) of 3D seismic or reprocessing of a similar volume.
Elsewhere in the offshore Taranaki basin, the company has a 20% interest in the PEP 54865 permit operated by Todd Exploration.
Here there are commitments to acquire and process 285 sq km (110 sq mi) of 3D seismic before June 2016. However, the partners have not been able to secure a seismic vessel for 1Q, and therefore have to defer the program (subject to government consent) until a suitable becomes available.
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