Drilling Continues at Oi-2 Exploration Well in PEP 38158 Offshore Taranaki
AWE Limited, as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reported Tuesday that the Oi-2 exploration well has drilled a 17.5 inch hole to the planned section target depth of 1,804 feet (550 meters) and that installation of the 13.375 inch casing has been completed.
As at 06:00 hours (6.00am) NZDT today, the Oi-2 exploration well was preparing to install well control equipment in advance of drilling ahead in a 12.25 inch hole to the planned section target depth of 4,921 feet (1,500 meters).
The Oi-2 exploration well is located approximately 7.45 miles (12 kilometers) northeast of the Tui Area Oil Fields in water depth of approximately 393 feet (120 meters). The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and is targeting the same F10 reservoir sandstones.
The Oi-2 exploration well will be drilled vertically to a planned total depth of 12,732 feet (3,881 meters) and is forecast to take approximately 31 days to complete.
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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