Australian Worldwide Exploration (AWE), the operator of the Tui area oil fields offshore New Zealand, has announced that agreements have been executed to secure the services of the semi-submersible drilling rig Kan Tan IV.
The rig is expected in Taranaki waters in the third quarter of 2009. The company said that within the Tui permit area there are five prospects near to the existing producing reservoirs.
AWE has announced that at least two of these are expected to be drilled by the Kan Tan IV, with additional rig time likely to be available for follow-up drilling. The Kan Tan-IV, operated by international drilling company, Maersk, will be contracted by AWE as part of a consortium of Australian companies to drill both in New Zealand and in south east Australia starting in the 2nd quarter of 2009, said the company.
AWE expects to drill the large Hoki oil prospect in permit PEP 38401 as the first well of its New Zealand campaign and also drill at least two oil prospects in close proximity to the producing Tui oil field.
Final selection of the wells to be drilled, has not been made and remains subject to joint venture approval.
Australian Worldwide Exploration is an Austalian oil and gas exploration and production company, currently having interests in Australia, New Zealand, Indonesia, Yemen, and Argentina.
