Australian company Octanex was forced to suspend its Kakapo 3D seismic survey, in permit area PEP 51906 offshore New Zealand’s Taranaki Basin, due to mechanical issues with the Reflect Resolution survey vessel operated by Reflect Geophysical, a Singapore-based contractor founded by Norwegian interests. At the time the survey was suspended 20% of the planned 270 km2 survey had been completed, having begun in mid August. Octanex has been in discussions about repairs to the vessel and a resumption of operations.
Through its New Zealand subsidiary, Octanex holds a 100% interest in PEP 51906, the first permit granted to the company outside of Australia. The permit granted in November 2009 requires Octanex to reprocess 1500 km of existing seismic data within the first 18 months. That work was completed a year ahead of time. The work programme for the second 18 month period of the permit is the acquisition of up to 1000 km of new 2D seismic data. The New Zealand Ministry of Economic Development has confirmed the Kakapo MSS will meet this commitment.
The PEP 51906 permit is strategically located in what is considered to be a highly prospective area of New Zealand’s only producing hydrocarbon basin; the Taranaki Basin. It covers an area of 1613 km? and is adjacent to three producing fields; the Maui gas/condensate field to the north and east (which has been in production since 1979), the Tui oil field to the north-east (which has been producing since 2008), and the Maari/Manaia fields to the south (which commenced production in 2009).
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