AWE Ready to Spin Bit at Hoki-1 Offshore NZ
AWE reported that the Kan Tan IV drilling rig is on location and is preparing to start drilling the Hoki-1 exploration well. The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin.
The Hoki-1 well is targeting the oil potential of the Cretaceous North Cape reservoir sequence and the underlying Wainui sandstones. The Hoki-1 well is being drilled by the semi-submersible rig, the Kan Tan IV, which recently completed a successful drilling campaign for AWE in the Bass Basin.
The Hoki-1 well is testing a large anticline, with potential to contain 250 million barrels of recoverable oil, approximately 135 kilometers west of New Plymouth in a water depth of approximately 330 meters, and approximately 85 kilometers from the Tui oilfield. The well is planned to be drilled to a total depth of approximately 3,570 meters.
Hoki-1 is the first well in AWE's 2010 drilling campaign in the offshore Taranaki Basin. Immediately following the Hoki-1 well, AWE will drill at least two wells in the area surrounding the existing oil fields at Tui.
In the surrounding acreage, AWE holds a number of follow-up drilling candidates, which may be drilled later in the campaign if the results of Hoki confirm the critical play elements.
AWE is the operator of Hoki-1 and holds a 50% interest. Additionally, OMV New Zealand holds a 21.25%; Todd Petroleum Mining Company holds an 18.75% interest; and Petroleum Resources Ltd (NZOG) holds the remaining 10% stake in the prospect.
Operates 6 Offshore Rigs
Manages 23 Offshore Rigs
- Maersk to Limit Investment in Energy Businesses until Separation (Dec 13)
- Maersk Oil Begins Culzean Drilling Campaign (Sep 29)
- Maersk Highlander Ready for Action (Aug 19)
Company: OMV more info
- Sharp Fall In Applications For Norway's Arctic Oil Permits (Dec 05)
- OMV Flags Higher 3Q Margins, Kurdistan Windfall (Oct 13)
- Gas Pipeline Through Central Europe to Go Ahead As Planned -Romania (Sep 28)
Company: Todd Petroleum more info
- OMV Gets First Oil from Maari Growth Project (Dec 01)
- Drilling at Hoki-1 Further Delayed by Rig Repair (Mar 19)
- AWE Ready to Spin Bit at Hoki-1 Offshore NZ (Mar 05)
Company: Australian Worldwide Exploration (AWE) more info
- Waitsia Gas Project Exceeds Pre-Production Expectations (Dec 22)
- Waitsia JV Approves 2017 Development Activities Budget (Dec 09)
- AWE Commences Gas Sales from Stage 1 of Waitsia Gas Project in Perth Basin (Aug 29)