NZ Oil & Gas completes Clipper 3D survey

January 4, 2014

New Zealand Oil & Gas has picked up a new interest in a production sharing contract in onshore south Sumatra, Indonesia.

The Indonesian regulator has announced that a consortium including New Zealand Oil & Gas has won a permit to explore the Palmerah Baru block covering approximately 1000 km2. Formal award of the production sharing contract is expected in late January.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

New Zealand Oil & Gas will have a 36 percent stake in the Palmerah Baru PSC. Its partners are Bukit Energy Palmerah Baru Pte Ltd (54 percent, operator), and PT SNP Indonesia (10 percent). New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province.

“The Palmerah Baru block is surrounded by oil and gas fields, including a very large field to the south and a recent discovery to the south-southeast. Because of developments in the area, the infrastructure necessary to transport product is nearby.

“New Zealand Oil & Gas is targeting opportunities in Indonesia that are in proven onshore basins, close to existing infrastructure, and more likely to be oil than gas.

“We have gathered more knowledge about working in Indonesia from our activities in the Kisaran and Bohorok PSCs. These onshore Sumatra opportunities provide diversity to our core focus on exploration in New Zealand.”

Bukit Energy are also partners with New Zealand Oil & Gas in the Kisaran PSC in central Sumatra where two wells were drilled this year (Pacific Oil & Gas, operator, 55 percent; Bukit Energy and New Zealand Oil & Gas each 22.5 percent through subsidiaries); And in the Bohorok PSC in north Sumatra awarded in May 2012 (Bukit Energy, Operator, and New Zealand Oil & Gas each 45 percent; Surya Buana Lestarijaya, 10 percent).

- See more at: http://www.rigzone.com/news/oil_gas/a/130878/NZ_OG_Acquires_New_Interest_In_Indonesia#sthash.ZuWWI9AH.dpuf

New Zealand Oil & Gas has picked up a new interest in a production sharing contract in onshore south Sumatra, Indonesia.

The Indonesian regulator has announced that a consortium including New Zealand Oil & Gas has won a permit to explore the Palmerah Baru block covering approximately 1000 km2. Formal award of the production sharing contract is expected in late January.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

New Zealand Oil & Gas will have a 36 percent stake in the Palmerah Baru PSC. Its partners are Bukit Energy Palmerah Baru Pte Ltd (54 percent, operator), and PT SNP Indonesia (10 percent). New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province.

“The Palmerah Baru block is surrounded by oil and gas fields, including a very large field to the south and a recent discovery to the south-southeast. Because of developments in the area, the infrastructure necessary to transport product is nearby.

“New Zealand Oil & Gas is targeting opportunities in Indonesia that are in proven onshore basins, close to existing infrastructure, and more likely to be oil than gas.

“We have gathered more knowledge about working in Indonesia from our activities in the Kisaran and Bohorok PSCs. These onshore Sumatra opportunities provide diversity to our core focus on exploration in New Zealand.”

Bukit Energy are also partners with New Zealand Oil & Gas in the Kisaran PSC in central Sumatra where two wells were drilled this year (Pacific Oil & Gas, operator, 55 percent; Bukit Energy and New Zealand Oil & Gas each 22.5 percent through subsidiaries); And in the Bohorok PSC in north Sumatra awarded in May 2012 (Bukit Energy, Operator, and New Zealand Oil & Gas each 45 percent; Surya Buana Lestarijaya, 10 percent).

- See more at: http://www.rigzone.com/news/oil_gas/a/130878/NZ_OG_Acquires_New_Interest_In_Indonesia#sthash.ZuWWI9AH.dpuf

New Zealand Oil & Gas has picked up a new interest in a production sharing contract in onshore south Sumatra, Indonesia.

The Indonesian regulator has announced that a consortium including New Zealand Oil & Gas has won a permit to explore the Palmerah Baru block covering approximately 1000 km2. Formal award of the production sharing contract is expected in late January.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

New Zealand Oil & Gas will have a 36 percent stake in the Palmerah Baru PSC. Its partners are Bukit Energy Palmerah Baru Pte Ltd (54 percent, operator), and PT SNP Indonesia (10 percent). New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province.

“The Palmerah Baru block is surrounded by oil and gas fields, including a very large field to the south and a recent discovery to the south-southeast. Because of developments in the area, the infrastructure necessary to transport product is nearby.

“New Zealand Oil & Gas is targeting opportunities in Indonesia that are in proven onshore basins, close to existing infrastructure, and more likely to be oil than gas.

“We have gathered more knowledge about working in Indonesia from our activities in the Kisaran and Bohorok PSCs. These onshore Sumatra opportunities provide diversity to our core focus on exploration in New Zealand.”

Bukit Energy are also partners with New Zealand Oil & Gas in the Kisaran PSC in central Sumatra where two wells were drilled this year (Pacific Oil & Gas, operator, 55 percent; Bukit Energy and New Zealand Oil & Gas each 22.5 percent through subsidiaries); And in the Bohorok PSC in north Sumatra awarded in May 2012 (Bukit Energy, Operator, and New Zealand Oil & Gas each 45 percent; Surya Buana Lestarijaya, 10 percent).

- See more at: http://www.rigzone.com/news/oil_gas/a/130878/NZ_OG_Acquires_New_Interest_In_Indonesia#sthash.ZuWWI9AH.dpuf

New Zealand Oil & Gas has picked up a new interest in a production sharing contract in onshore south Sumatra, Indonesia.

The Indonesian regulator has announced that a consortium including New Zealand Oil & Gas has won a permit to explore the Palmerah Baru block covering approximately 1000 km2. Formal award of the production sharing contract is expected in late January.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

New Zealand Oil & Gas will have a 36 percent stake in the Palmerah Baru PSC. Its partners are Bukit Energy Palmerah Baru Pte Ltd (54 percent, operator), and PT SNP Indonesia (10 percent). New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province.

“The Palmerah Baru block is surrounded by oil and gas fields, including a very large field to the south and a recent discovery to the south-southeast. Because of developments in the area, the infrastructure necessary to transport product is nearby.

“New Zealand Oil & Gas is targeting opportunities in Indonesia that are in proven onshore basins, close to existing infrastructure, and more likely to be oil than gas.

“We have gathered more knowledge about working in Indonesia from our activities in the Kisaran and Bohorok PSCs. These onshore Sumatra opportunities provide diversity to our core focus on exploration in New Zealand.”

Bukit Energy are also partners with New Zealand Oil & Gas in the Kisaran PSC in central Sumatra where two wells were drilled this year (Pacific Oil & Gas, operator, 55 percent; Bukit Energy and New Zealand Oil & Gas each 22.5 percent through subsidiaries); And in the Bohorok PSC in north Sumatra awarded in May 2012 (Bukit Energy, Operator, and New Zealand Oil & Gas each 45 percent; Surya Buana Lestarijaya, 10 percent).

New Zealand Oil & Gas has picked up a new interest in a production sharing contract in onshore south Sumatra, Indonesia.

The Indonesian regulator has announced that a consortium including New Zealand Oil & Gas has won a permit to explore the Palmerah Baru block covering approximately 1000 km2. Formal award of the production sharing contract is expected in late January.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

New Zealand Oil & Gas will have a 36 percent stake in the Palmerah Baru PSC. Its partners are Bukit Energy Palmerah Baru Pte Ltd (54 percent, operator), and PT SNP Indonesia (10 percent). New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province.

“The Palmerah Baru block is surrounded by oil and gas fields, including a very large field to the south and a recent discovery to the south-southeast. Because of developments in the area, the infrastructure necessary to transport product is nearby.

“New Zealand Oil & Gas is targeting opportunities in Indonesia that are in proven onshore basins, close to existing infrastructure, and more likely to be oil than gas.

“We have gathered more knowledge about working in Indonesia from our activities in the Kisaran and Bohorok PSCs. These onshore Sumatra opportunities provide diversity to our core focus on exploration in New Zealand.”

Bukit Energy are also partners with New Zealand Oil & Gas in the Kisaran PSC in central Sumatra where two wells were drilled this year (Pacific Oil & Gas, operator, 55 percent; Bukit Energy and New Zealand Oil & Gas each 22.5 percent through subsidiaries); And in the Bohorok PSC in north Sumatra awarded in May 2012 (Bukit Energy, Operator, and New Zealand Oil & Gas each 45 percent; Surya Buana Lestarijaya, 10 percent).

 

Polarcus Alima seismic acquisition vesselNew Zealand Oil & Gas says it has completed an incident-free 3D seismic survey covering about 650sq km of the Clipper permit east of Oamaru.

Early in December, NZ Oil and Gas chief executive Andrew Knight said the company was planning to acquire seismic data off the coast of South Canterbury, in an area known as the "Clipper."

"Oil and gas prices are more favourable now than they were back then [earlier drilling], and the safety technology has improved markedly...this is potentially a very exciting opportunity," he said then.

The seismic vessel Polarcus Alima began the survey on 17 Dec 2013, towing 12 seismic streamers, each 100m apart and reaching 8km behind the vessel, NZ Oil & Gas said.

The survey was completed on 31 Dec, more than a week ahead of schedule. The terms of the Clipper exploration permit required a 3D survey to be completed by October 2014.

The Clipper permit is a joint venture with the Australian-based Beach Energy. NZ Oil and Gas bought into the permit in October 2012. The company has said if there is a "decent show" at the site, it would "find partners" for a possible drilling operation.

Extensive seismic surveys were conducted in the Canterbury basin in the 1970s and 1980s before the only existing well in the block, Clipper-1, was drilled by BP in 1984. It recovered samples of hydrocarbon gas from a depth of over 4000m.

Data from the survey would be processed overseas and then analysed by New Zealand Oil & Gas geoscientists in Wellington. That process could take one to two years.

The Clipper and Galleon permits lie in the Canterbury Basin, which is a focus for frontier, conventional oil and gas exploration. Drilling by another operator was scheduled in an adjacent permit in early 2014, NZ Oil & Gas noted.

New Zealand Oil & Gas has a 50% interest in Clipper and is the operator. The remaining 50% is held by ASX-listed Beach Energy.

NZ Oil & Gas' Knight said he wanted to thank the local community. "Tangata whenua, the Department of Conservation and community representatives enabled a successful survey to occur with no impact on the marine environment."



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