Kupe Field Initial 2P Reserves Increase
Origin Energy Ltd announced that following a detailed reserves review, the initial proved and probable (2P) reserves in the Kupe field have increased. Initial gas reserves have increased by 8%, LPG reserves by 5%, and light oil reserves by 27%. The reserves review integrated new petrophysical, fluid sample, and well test information from development wells drilled in 2008 with full field static and dynamic reservoir models. The models were updated to enable matching of the new technical information with limited early field production data. As a result of this modeling, 2P reserves are now estimated at 74.2 MMboe. The Kupe gas and light oil/condensate field is located offshore New Zealand in the Taranaki basin in a water depth of 115 feet (35 meters). The field lies in the Kupe Central Field Area (CFA) within PML 38146 and is operated by Origin Energy, which holds a 50% interest. Genesis Energy holds a 31% interest; New Zealand Oil and Gas Limited holds a 15% interest; and Mitsui E&P Australia Pty Limited holds a 4% interest.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
- Beach Energy Buys Origin's Lattice in $1.25 Billion Deal (Sep 28)
- Energy Titans Get Schooled in Sharing as Billions Seen Blown (May 09)
- Australia's Origin Energy Doubles Stake In Beetaloo Shale Gas Field (May 05)