Taranaki oil set to deliver 250m barrels of oil
The Kan Tan IV drill rig is on location and preparing to start drilling at AWE's Hoki-1 exploration well in the offshore Taranaki Basin off the coast of New Zealand’s south island.
The well is targeting the oil potential of the Cretaceous North Cape reservoir sequence and the underlying Wainui sandstones which AWE believes has the potential to contain 250 million barrels of recoverable oil.
The well is planned to be drilled to a depth of around 3,570m and is the first in AWE’s 2010 drilling campaign in the Taranaki Basin. Immediately following the Hoki-1 well, at least two more will be drilled in the area surrounding the existing oil fields at Tui.
Taranaki oil set to deliver 250m barrels of oil
The Kan Tan IV drill rig is on location and preparing to start drilling at AWE's Hoki-1 exploration well in the offshore Taranaki Basin off the coast of New Zealand’s south island.
The well is targeting the oil potential of the Cretaceous North Cape reservoir sequence and the underlying Wainui sandstones which AWE believes has the potential to contain 250 million barrels of recoverable oil.
The well is planned to be drilled to a depth of around 3,570m and is the first in AWE’s 2010 drilling campaign in the Taranaki Basin. Immediately following the Hoki-1 well, at least two more will be drilled in the area surrounding the existing oil fields at Tui.
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