Tui 3-D Seismic Results to be Fast-Tracked

The 3-D seismic program now being carried out by PEP 38460 operator Transworld Oil Ltd over the recent Tui oil discovery in offshore Taranaki is expected to be completed about mid-May, partner New Zealand Oil & Gas Ltd says.

Tui-1 encountered a 10 m oil column within the Kapuni F sands which produce oil at Maui B, 20 km to the south.

The joint venture began acquisition of the 3-D seismic on 23 March to more accurately determine the size of the Tui discovery and also delineate several similar targets nearby.

NZOG said processing of the seismic will be fast-tracked so that interpretation can be completed in sufficient time to allow the joint venture to arrange drilling next summer.

Preliminary processed seismic data is expected to be available for interpretation in June or July 2003.