AWE to start production at Pateke-4H in 2015

5/20/2014

AWE to start production at Pateke-4H in 2015

NORTH SYDNEY, Australia -- AWE reports that the Pateke-4H development well was successfully completed and suspended for production at a later date.

Production from Pateke-4H is planned for 1H calendar year 2015 following the installation and commissioning of a subsea flowline and ancillary control equipment connecting the well to the Tui field gathering system. This work is scheduled to commence in Q1 calendar year 2015.

Preparations are being made to relocate the “Kan Tan IV” drilling rig 12 kms to the northeast of the Tui field to the Oi-1 exploration well location. On current planning, Oi-1 is expected to commence drilling during the last week of May.

The Pateke-4H development well is in PMP 38158 and AWE is the operator. Located in the offshore Taranaki basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007.

The JV partners in PMP 38158 are: AWE (via subsidiaries - operator) 57.5%, New Zealand Oil & Gas (via subsidiaries) 27.5%, Pan Pacific Petroleum (via subsidiaries) 15.0%.

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