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NZOG to relocate from Sydney back to Wellington
22 February 2004 - New Zealand Oil and Ltd is to relocate its office from Sydney back to Wellington following an expanding range of New Zealand exploration activities and developments.
In its December quarter report NZOG says all operations will be centred in Wellington by mid-2004. This follows expiry of an agreement to share certain staff and facilities with Pan Pacific Petroleum NL, which is no longer a subsidiary.
NZOG shifted its office to Sydney over a decade ago.
The report confirms that the Ocean Bounty rig has been contracted to drill up to three more wells in the offshore Taranaki Tui permit PEP 38460. The rig is scheduled to be on location late in March, two months sooner than when last reported.
The wells will be operated by Transworld Oil subsidiary New Zealand Offshore Petroleum Ltd. The first well to be drilled will be the Amokura prospect some 4km away from the Tui-1 oil discovery drilled a year ago.
The second well, to be called Pukeko-1, will be some 70 km south of Tui, which has three targets – the Kapuni C, D and F Sands. Results of the first two wells will determine whether a third well should follow immediately.
The third possible well is likely to be Kiwi-1. Each well will take around 30 days to drill.
Ocean floor surveys have been carried out over several different locations to allow flexibility as to drilling locations after the first two firm wells have been evaluated.
The potential of the company’s Mangatoa “large gas prospect” in PEP38478, off the Northern Taranaki coastline, is being refined via depth mapping. The structure covers an area of 100 sq km.
The company also reported that it has recently increased its equity in two onshore Taranaki licences, the Tuihu-1 permit PEP 38718 from 20% to 25% and the Makino-1 permit PEP 38728 to 56% from its previous 8%.
