AWE Resumes Oil Production Offshore Taranaki


Taranaki Basin
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Oil production has resumed from the Pateke-3H well after a successful workover operation was performed and completed by the Kan Tan IV semisub. The Pateke-3H well suffered from problems with the artificial lift system, forcing the well to close in June. The restart of the Pateke-3H well is expected to increase Tui's oil production rate, which has been flowing at an average rate of 7,000 bopd. The Tui oil field is situated in the offshore Taranaki Basin in PEP 38460. Interest holders in the project are AWE, serving as the operator and holding a 42.5% interest; Mitsui E&P Australia Pty Limited holding a 35% interest; New Zealand Oil & Gas Limited holding a 12.5%; and Pan Pacific Petroleum holding the remaining 10% interest.

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Natural Gas : $3.64/MMBtu 0.27%
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