TGS-NOPEC to Promote Deepwater Taranaki Basin Licensing Round

Crown Minerals, the New Zealand Government Petroleum Licensing Authority, will host a series of seminars to promote the New Zealand Deepwater Taranaki bidding round. The seminars will provide an overview of the New Zealand petroleum regime and the potential of the Deepwater Taranaki region. TGS-NOPEC will be presenting the results from its recently completed Astrolabe 2D Seismic Survey. The seminars are scheduled for Singapore on 27 September, London on 30 September and Houston on 3 October. The Astrolabe survey provides a regional grid of modern high quality seismic data (including eight well-ties onto the shelf and one to the Northland Basin) in this frontier region, which is adjacent to the giant Maui oil and gas field. The data will be available as part of a data package released in conjunction with the bidding round.

The 2D seismic survey has demonstrated the presence of thick sedimentary successions (up to 9 km) and identified large traps (~200 sq km). Trapping mechanisms include fault closures, drapes across rift block highs and inversion structures created by compression during the Eocene. The deep-water Taranaki is a Cretaceous play, different to traditional (Kapuni) plays on the shelf.