Netherland Sewell To Make Maui Reserves Re-Determination

Natural Gas Corporation confirmed that Netherland Sewell and Associates International has been chosen by the parties to the Maui gas contracts to settle the issue of remaining reserves in the offshore Taranaki field.

Project leader Joe Spellman said from the firm’s Dallas offices that Netherland Sewell was looking forward to developing an understanding of the issues relating to the Maui field. One of the firm’s founders, Frederic Sewell, would also be involved in the Maui project as the final report would be referred to him.

Netherland Sewell had over 40 years of experience in a wide range of consultancy services, such as geophysics, geology, petrophysics, engineering, modeling and economics. The firm had also been involved in a number of field re-determinations, one recent case being the North Sea Markham field.

NGC announced in mid-June that an independent firm would be appointed to decide the level of remaining Maui gas reserves. This followed agreement between the relevant parties regarding the procedure for the reserves re-determination to proceed.

The parties to the Maui gas contracts - the New Zealand government, MDL, Methanex, NGC and Contact Energy - also agreed that Netherland Sewell would consider any issues relating to the inadequacy of information provided by MDL, as claimed by Methanex.

NGC has said that the adjudicator’s report should be expected within four months of the appointment and that all parties to the Maui gas contracts have agreed to abide by the report’s recommendations.