NZOG (New Zealand Oil & Gas Ltd) advises that the Kan Tan IV drilling rig is on location and is preparing to start drilling the Tui SW-1 exploration well.
The Tui SW-1 well is located in mining licence PMP 38158 in the offshore Taranaki Basin, approximately 85 kilometres from New Plymouth.
The Tui SW-1 well is testing the Kapuni F10 Sand, which has proved productive at the adjacent Tui oilfield. The well is planned to be drilled to a total depth of approximately 3,900 metres. At the conclusion of drilling, Tui SW will be cased and suspended as a possible future gas injection well.
A successful discovery would likely be developed by a horizontal well tied-back to the existing Tui facilities.
A second well, Kahu-1, is to be drilled immediately following Tui SW-1. Kahu is a potentially larger oil bearing target. It may also provide important information regarding the remaining prospectivity within PMP 38158.
Participants in Tui SW-1 and PMP 38158 are:
New Zealand Oil & Gas Ltd (through its subsidiary Stewart Petroleum) 12.5%
AWE Limited (Operator) 42.5%
Mitsui E&P Australia Pty Limited 35.0%
Pan Pacific Petroleum NL (through its subsidiary WM Petroleum Ltd) 10.0%
