AWE Releases Kan Tan IV After Completing Drilling at PMP 38158 Off NZ

Australia's AWE Limited, as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reported Monday that plug and abandonment operations for the Oi-1 and Oi-2 exploration wells have been completed and that the Kan Tan IV (mid-water semisub) was released at 13:00 hours (1.00 pm) NZDT Saturday, July 19.

The Joint Venture partners in PMP 38158 are:

  • AWE Limited (via subsidiaries) (Operator): 57.50 percent
  • New Zealand Oil & Gas (via subsidiaries): 27.50 percent
  • Pan Pacific Petroleum (via subsidiaries): 15.00 percent

The Joint Venture partners in the Oi-2 exploration well are:

  • AWE Limited (via subsidiaries) (Operator): 31.25 percent
  • New Zealand Oil & Gas (via subsidiaries): 18.75 percent
  • Pan Pacific Petroleum (via subsidiaries): 50.00 percent

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