shareholders about to be rewarded
Quote:
Originally Posted by
BigBob
There it is...: announcement out - first gas from Kupe...!!
NZOG (New Zealand Oil & Gas Ltd) is pleased to report that the wells have been opened this afternoon and the first gas and liquids are being piped ashore from the offshore Kupe field to the processing plant near Hawera.
The Kupe field, 30km off the south Taranaki coast, was discovered by NZOG in 1986. During the era of cheap Maui gas and low oil prices it was uneconomic to develop Kupe. The investment decision was finally made in 2006, with Origin Energy as operator (and 50% owner). The other joint venture parties are NZOG (15%), Genesis Energy (31%) and Mitsui (4%).
With the raw gas stream now flowing to shore, the Kupe production system is being bedded down through a commissioning period. There will be production of sales gas, LPG and light oil during the commission period with full steady state production expected to be achieved in the next couple of months.
Over the life of the project, Kupe is expected to provide approximately 254 petajoules of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light oil.
Kupe will supply 10 to 15 per cent of New Zealand’s annual gas demand and around half of the country’s LPG requirements.
NZOG Chief Executive David Salisbury says after 23 years NZOG and its shareholders are about to be rewarded for their perseverance
At 409 metres this morning
Quote:
Originally Posted by
Casa del Energia
Good point - must not get too carried away, this is drilling thousands of feet, miles off shore in one of the wildest seas on earth. Remember previous drills, breakdowns, lost bits, side tracks etc.
And perhaps remember the poor slobs stuck out on a rig on Xmas day while we're all poping corks and hoeing into turkey drumsticks. (even if they do get paid the equivalent of a small countries GDP each).
Drilling underway at Albacore
Its not always that bad in the TasmaN
I was out on and in it on Saturday(fishing and diving ) as they were spudding albacore .The conditions were flat and warm and the sea very productive .
There are lots of lignite deposits on the cliffs above the beach where we launched our boat .
Albacore is a relatively low cost wildcat drill for nzo so minimal downside if it is a failure but a success would be just what be so good for the sp .
Expect to enjoy watching the sp during the thrill of the drill .
NZOG (New Zealand Oil & Gas Ltd) advises that the ENSCO-107 jack-up rig has commenced drilling at Albacore.
The Albacore-1 exploration well was spudded at 14:00 hours on Saturday 5 December.
As at 06:00 today, the 20” casing had been cemented and the well had been drilled ahead to a depth of 419 metres MDRT*.
The well lies within petroleum exploration permit 38491, about 70kms north of New Plymouth in the offshore Taranaki basin.
Albacore Exploration Well Disclosure Notice
NZO
11/12/2009
MINE
REL: 0928 HRS New Zealand Oil and Gas Limited
MINE: NZO: Albacore Exploration Well Disclosure Notice
NZOG (New Zealand Oil & Gas Ltd) advises that as at 06:00 hours on 11
December, the following operations have been completed on Albacore-1:
- The 20 inch section has been drilled to a final depth of 207m MDRT
(measured depth below rotary table) with casing run and cemented.
- The 17-1/2 inch section has been drilled to a final depth of 1173m MDRT.
- 13-3/8 inch casing has been set at 1161m MDRT.
The current operations involve drilling out cement and preparing to drill
ahead in the 12-1/4 inch hole.
The well has an expected total depth of 2200 metres. The first of several
drilling targets is a Pliocene Fan at approximately 1470 metres.
Albacore-1 is an exploration well located 70km north of New Plymouth in the
northern offshore Taranaki basin. Drilling began on 5 December 2009 and is
expected to take approximately 20 days to reach total planned depth. The well
will then be plugged and abandoned and the results analysed.
Participants in the Albacore permit are:
Westech (Operator) 50%
New Zealand Oil & Gas Ltd (through its subsidiary NZOG Offshore Ltd) 40%
Mighty River Power Gas Investments 10%
End CA:00189029 For:NZO Type:MINE Time:2009-12-11:09:28:59
Albacore sounds like a duster...:
NZOG (New Zealand Oil & Gas Ltd) advises that the Albacore-1 well has reached its total depth with only traces of hydrocarbons found.
Drilling proceeded ahead of schedule over the weekend, with Albacore-1 reaching a total depth of 2133m at 02:00 hours on Sunday 13 December.
Wireline logs are currently being run to gather additional information. However, based on only traces of hydrocarbons having been found, the well is non-commercial. Once the logging is completed, the well will be plugged and abandoned as planned.
Albacore-1 is an exploration well located 70km north of New Plymouth in the northern offshore Taranaki basin. Drilling using the ENSCO-107 jack-up rig began on 5 December 2009.
The ENSCO-107 is returning to Singapore following completion of drilling at Albacore, with a heavy-lift vessel due to arrive later this week.
Albacore is the first of at least four wells in NZOG’s summer drilling programme. The other scheduled wells – an exploration well called Hoki, and two appraisal wells near the Tui oil field – will be drilled by the Kan Tan IV semi-submersible rig, which is currently due to arrive in New Zealand in late January.