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Two extra Kupe wells may be drilled NZOG says

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26 February 2008 - The Kupe field partners are considering drilling two extra wells after the initial three development wells are completed, one of the partners New Zealand Oil & Gas says in its December quarter report.

NZOG says the partners are planning two wells Momoho-1 and a sidetrack to test both the east and west compartments of the Momoho structure which are separated by a fault.

Any discovery of additional gas reserves could be developed via the connection to the Kupe platform. The wells would be within the Kupe mining permit 38146.

NZOG holds a 15% interest in Kupe which is operated by Origin Energy, Genesis Energy holds 31% and Mitsui E&P Australia 4%.

In PEP 38499 south of Tui and just west of Maui field mapping of numerous oil target leads including Toke, Matuku and Kakapo are being further defined following a 2D seismic survey undertaken in July 2007. The mapping is expected to be completed by mid-year.

Drill mature prospects could be drilled in PEP 38499 by the Tui partners (AWE, Mitsui, NZOG and Pan Pacific Petroleum) in a potential 2009 drilling campaign.

Remodelling and reviewing of other prospects and leads is underway in PEP 38483 (NZOG 18.9% interest) where the Hector-1 well was unsuccessfully drilled in 2007.

Meanwhile production drilling of the three Kupe production wells is progressing well with wells casing set by the jack-up Ensco Rig 107 in two wells just above the target Farewell sandstone reservoir below 3,000 m.

Last updated 26 February 2008

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