Cleanup Along Taranaki Coast Completed

AWE, as operator of the Tui Area Oil Project, advises that the clean up of oil along a section of the Taranaki coast has been completed. While Maritime New Zealand is conducting further tests, the Tui Joint Venture accepts that the source of the degraded oil was a discharge of oil-contaminated water from the Floating Production, Storage and Offtake vessel Umuroa on Sunday 21 October.

Immediate measures have been taken to guard against any repeat of this incident. Production operations have continued uninterrupted since the incident. The integrity of the production wells and facilities is not in question.

AWE is co-operating fully with Maritime New Zealand and the clean-up costs will be met in full. These costs are not expected to be material. A decision on whether or not there will be any further action lies with Maritime New Zealand.

Participants in the Tui Area Oil Project are:

AWE (Operator) 42.5%
Mitsui E & P Australia Pty Ltd 35.0%
Stewart Petroleum Company Ltd ('"New Zealand Oil & Gas'") 12.5%
WM Petroleum Ltd ('"Pan Pacific Petroleum NL'") 10.0%
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