New Zealand Oil & Gas (NZOG) has reported 604,736 barrels of oil from the Tui field offshore Taranaki, New Zealand, were lifted and shipped last week.
As said in a statement, 166,302 barrels of the shipment belong to NZOG, which owns a 27.5% stake in the Tui area oil fields. The other Tui joint venture partners are AWE Limited (via subsidiaries) (Operator) 57.5 per cent and Pan Pacific Petroleum (via subsidiaries) 15 per cent.
NZOG has said that the volume shipped last week reflects increased production from Tui resulting from the Pateke-4H field coming into production in the current quarter. Revenue from the shipment will be recognised in the current quarter.