By OGJ editors
HOUSTON, Nov. 23 – Westech Energy New Zealand will pursue a new play type for the Taranaki basin at an exploratory well on PEP 38491 about 70 km north of New Plymouth, NZ.
Westech is moving the Ensco 107 jackup from Maari oil and gas field to drill Albacore-1, first well on the block, to 2,200 m in 95 m of water.
The well’s objectives are a series of early Pliocene-aged turbidite fans identified on 3D seismic at the Albacore location, along with underlying Mio-Pliocene Mangaa formation sands and a deeper volcaniclastic interval.
The company estimates recoverable potential at near 50 million bbl of oil and several hundred billion cubic feet of gas. Further potential is associated with similar leads on the block and on trend with the Albacore prospect.
Westech is the well operator and holds the permit for a joint venture that includes NZOG Offshore Ltd. 40% and Mighty River Power Gas Investments Ltd. 10%.
US Department of the Interior.
File photo from PDVSA..
