New Zealand Oil & Gas Ltd has exploration acreage in New Zealand’s only hydrocarbon-producing region, the Taranaki Basin, and is actively looking for other opportunities in Taranaki, elsewhere in New Zealand and overseas.
NZOG Exploration Acreage in the Taranaki Basin
Taranaki Permits Map [564kB]
Permit PML38146 (Kupe)
(NZOG Interest 15%)
This permit includes the Kupe Project.
NZOG and its Kupe joint venture partners drilled the Momoho exploration prospect in June/July 2008. The Momoho-1 exploration well was spudded on 13 June 2008 and reached total target depth on 14 July. The well was plugged and abandoned after discovering a small gas condensate pool, the third indication of hydrocarbons along this structural trend. Potential also remains for hydrocarbons to be trapped within a large closure to the northeast. Further studies will be undertaken to determine whether it may be possible to contemplate a development combining existing and potential hydrocarbon accumulations.
Permit PMP38158 (Tui)
(NZOG Interest 12.5%)
This permit includes the producing Tui Area Oil Fields.
3D marine seismic is being remapped to incorporate the results from the 2006-2007 Tui drilling campaign. The remapping of the entire permit is expected to better define leads.
Drill-mature prospects could be targeted in a potential 2009 drilling campaign. Any future discoveries could be tied-back directly to the FPSO vessel Umuroa, which is processing oil from the Tui fields.
Permit PEP38499
(NZOG Interest 12.5%)
NZOG and its Tui area partners acquired offshore block PEP38499 in mid 2007. It lies to the south of the producing Tui fields and west of the producing Maui field.
The permit contains numerous leads. Marine seismic survey shot in June/July 2007 has been processed and is now being evaluated, to further delineate and define the leads.
Drill-mature prospects could be drilled in a potential 2009 drilling campaign. The targets for this area are oil fields which could potentially be developed using a FPSO similar to that used for the Tui fields.
Permit PEP38483
(NZOG Interest 18.9%)
Work on this permit continues to focus on remodeling and reviewing a number of prospects and leads with a view to proving these up to drillable prospects.
In March 2008 a western deepwater portion of the permit area was handed back to Crown Minerals, as part of a negotiated amendment to the permit work obligations. The revised permit area and obligations have allowed the joint venture to retain the more prospective areas of the permit.
