Drilling at Hoki-1 Further Delayed by Rig Repair

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AWE recently reported that the drilling of the Hoki-1 exploration well had been delayed due to some essential repair work that is required to be undertaken by Maersk Drilling to ensure the ongoing safe operation of the drilling unit.

AWE has been further informed by Maersk that the repairs will take longer than previously envisaged and that a full repair and reinstatement of the safe operation of the drilling mast will take approximately three weeks to be completed.

This revised schedule is a result of identifying an extended workscope together with a considerable allowance for any weather downtime.
As previously stated the costs of this repair and the rig day rate are to the account of the drilling contractor.

After the completion of this work, AWE will reinstate drilling operations from the current depth of 1,505 meters, where the 13-3/8" casing has been set and cemented.

The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin. It lies approximately 135 kilometers west of New Plymouth and in water depth of approximately 330 meters.

Hoki-1 is targeting the oil potential of the Cretaceous North Cape reservoir sequence and the underlying Wainui sandstones. The well is planned to be drilled to a total depth of approximately 3,570 meters.



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