Octanex N.L. has announced that a 3D seismic survey, to acquire approximately 590km2 of new 3D data from within and adjacent to PEP 53473 (Permit), has commenced. The survey has been named Kokako.
The Company’s 50% interest in the Permit is held by its wholly-owned subsidiary, Octanex NZ Limited (Octanex NZ). New Zealand Oil & Gas Limited (NZOG) holds the other 50% interest and is the Operator of the Permit, and of the PEP 53473 Joint Venture exploring the Permit.
The Permit covers approximately 853 km2 and is located north of the producing Tui oil field, in the offshore Taranaki Basin, and between the PEP 51906 and PEP 52593 permits, in which Octanex NZ holds 22.5% and 50% interests respectively.
Of the total 590km2 of new 3D data being acquired by the Kokako survey, approximately 513km2 will be acquired within the area of the Permit.This is more than double the Permit’s work programme requirement to acquire 250 km2 of new 3D data.
The Joint Venture has until 19 March 2014 to acquire, process, interpret and map the required 250 km2 of new data and to build its inventory of leads and prospects.
The main focus of the Kokako 3D survey is two attractive leads within the Permit. The first lead, Kokako, is located in the south-east corner of the Permit while the second, Toutouwai, is located in the north.
The new 3D data is planned to assist in determining whether, primarily, the Kokako and Toutuowai leads are structural closures; the aim being to elevate the leads to the status of drillable prospects.
The Kokako lead is a potential depth closure within the extend of the Kapuni F Sand that is located updip from the Taranui-1 well. This well sampled oil in the overlying Kapuni D Sand. The Toutouwai lead had been identified at the top North Cape Sand, to the north of the Takapou-1 well. The locations of Taranui-1 and Takapou-1 are shown in the following PEP 53473 Well Location Map, with Taranui-1 located just outside of the Permit’s boundary.
The Kokako survey is being acquired by the Schlumberger-owned vessel UMV Western Monarch”. The vessel will utilise a 10-streamer array of 8.3km streamers and is scheduled to take 20 days to complete the acquisition, subject to weather and any other interruptions.
Despite its location adjacent to the producing Tui oil field, there has been little modern 3D seismic data acquired within the permit area to date, apart from approximately 40km2 of Tui 3D ingress seismic in the south of the permit where a lead was defined by AWE in 2008.